Mackenzie Financial Corp Buys 25,071 Shares of TORM plc (NASDAQ:TRMD)

Mackenzie Financial Corp raised its stake in TORM plc (NASDAQ:TRMD) by 225.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,177 shares of the company’s stock after purchasing an additional 25,071 shares during the period. Mackenzie Financial Corp’s holdings in TORM were worth $704,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its position in shares of TORM by 49.5% during the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock worth $114,000 after purchasing an additional 1,939 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of TORM by 8.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company’s stock worth $175,000 after purchasing an additional 711 shares in the last quarter. Apollon Wealth Management LLC boosted its position in shares of TORM by 26.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock worth $208,000 after purchasing an additional 2,219 shares in the last quarter. Aristides Capital LLC bought a new position in shares of TORM during the 4th quarter worth about $216,000. Finally, NewEdge Advisors LLC boosted its position in shares of TORM by 16.4% during the 4th quarter. NewEdge Advisors LLC now owns 11,964 shares of the company’s stock worth $233,000 after purchasing an additional 1,685 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

TORM Trading Down 0.5%

TRMD opened at $15.96 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. TORM plc has a fifty-two week low of $13.60 and a fifty-two week high of $40.47. The firm has a market capitalization of $1.50 billion, a PE ratio of 2.06 and a beta of 0.12. The company’s 50-day moving average is $16.31 and its 200 day moving average is $18.58.

TORM (NASDAQ:TRMD) last posted its earnings results on Thursday, May 8th. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.02). The business had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. TORM had a return on equity of 34.45% and a net margin of 43.81%. As a group, research analysts predict that TORM plc will post 6.27 earnings per share for the current fiscal year.

TORM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Thursday, May 22nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.60 annualized dividend and a yield of 10.03%. TORM’s dividend payout ratio (DPR) is 24.47%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TRMD. Evercore ISI cut their price objective on shares of TORM from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Fearnley Fonds upgraded shares of TORM from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Pareto Securities upgraded shares of TORM from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Finally, Kepler Capital Markets lowered shares of TORM from a “hold” rating to a “strong sell” rating in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TORM currently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.