Hibernia Wealth Partners LLC Buys 1,092 Shares of TORM plc (NASDAQ:TRMD)

Hibernia Wealth Partners LLC lifted its position in TORM plc (NASDAQ:TRMD) by 5.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,974 shares of the company’s stock after purchasing an additional 1,092 shares during the quarter. Hibernia Wealth Partners LLC’s holdings in TORM were worth $717,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. National Bank of Canada FI bought a new stake in TORM during the second quarter worth about $26,000. Fifth Third Bancorp bought a new stake in TORM during the 2nd quarter worth approximately $43,000. Syquant Capital Sas bought a new stake in TORM during the 2nd quarter worth approximately $46,000. Headlands Technologies LLC acquired a new stake in TORM during the 1st quarter valued at $51,000. Finally, Point72 Hong Kong Ltd acquired a new position in TORM in the second quarter worth $78,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Fearnley Fonds upgraded TORM to a “hold” rating in a research note on Friday, September 27th. Evercore ISI increased their price objective on shares of TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd.

TORM Trading Up 1.2 %

Shares of TORM stock opened at $27.29 on Monday. The firm has a 50 day simple moving average of $33.69 and a 200 day simple moving average of $35.59. TORM plc has a fifty-two week low of $26.10 and a fifty-two week high of $40.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94.

TORM (NASDAQ:TRMD) last released its earnings results on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. The company had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same period last year, the firm earned $2.14 EPS. On average, analysts anticipate that TORM plc will post 7.12 earnings per share for the current fiscal year.

TORM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a yield of 26.38%. TORM’s dividend payout ratio is presently 67.44%.

TORM 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.