# TORM plc (TRMD)

> Source: Nexqual · https://nexqual.com/TRMD · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, TORM plc (TRMD), nexqual.com/TRMD" · informational, not investment advice.

**Price:** USD 38.53 (-2.08% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 39.35 · day 38.03–39.19 · 52w 19.3–41.86 · market cap $3.96B · NMS

## Key facts
- 2 of 80 tracked superinvestors hold TRMD (13F, Q2 2026): 1 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $19.2M; 2 not under a Rule 10b5-1 plan ($19.2M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.50 on a 1–5 scale) (2 analysts), mean target USD 41.5 (range 38–45).
- Total return with dividends: 1Y +105.1% vs S&P 500 +14.9%; 5Y +786.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 1.56, revenue estimate $356M.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold TRMD. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Howard Marks | Oaktree Capital | 13.87% | $524M | Reduced -14.7% |
| Sarah Ketterer | Causeway Capital Management | <0.01% | $290K | New position |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-18…2026-09-22 | Balle Kim | Chief Financial Officer | 42,533 | $1.6M | 98.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-18…2026-05-20 | Meldgaard Jacob Balslev | Chief Executive Officer | 549,147 | $17.6M | 100% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.50 on a 1–5 scale), 2 analysts; mean target USD 41.5 (low 38, high 45).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-27 | Evercore ISI Group | Target raised | Outperform | $37 → $38 |
| 2026-07-22 | Evercore ISI Group | Target raised | Outperform | $35 → $37 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +105.1% | +786.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +105.6% | +54.5% |
| Volatility (annualized) | 39.8% | 44.3% |
| Max drawdown | -23.5% (May 2026→Jun 2026) | -59.0% (Jul 2024→Mar 2025) |

## Peers (Oil & Gas Midstream)
DHT (DHT Holdings, Inc.) USD 24.12 -0.17% · STNG (Scorpio Tankers Inc.) USD 82.44 -0.70% · BWLP (BW LPG Limited) USD 24.73 -1.94% · GLNG (Golar LNG Limited) USD 44.03 -2.13% · TNK (Teekay Tankers Ltd.) USD 95.31 -0.71% · CMBT (CMB.TECH NV) USD 18.08 -1.42%

## More
Full page: https://nexqual.com/TRMD · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name TRMD in their own reports (relationship from TRMD's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Hafnia Ltd (HAFN) | 20-F 2026-04-17 | "On September 11, 2025, we entered into a sale and purchase agreement with OCM Njord Holdings S.a.r.l. for the acquisition of 14,156,061 Class A Shares of TORM plc ("TORM", CSE ticker code "TRMD" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.56 | $2.70 | -42.2% | $355.6M | 1 |
| Next quarter (ends 2026-12-31) | $1.61 | $1.46 | +10.3% | $399.2M | 1 |
| Current fiscal year (ends 2026-12-31) | $7.60 | $9.12 | -16.7% | $1.53B | 1 |
| Next fiscal year (ends 2027-12-31) | $4.32 | $4.47 | -3.4% | $1.45B | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±13.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 49.7% | ±13.7% |
| 2026-12-18 | 56 | 54.0% | ±16.7% |
| 2027-01-15 | 84 | 49.2% | ±18.4% |
| 2027-04-16 | 175 | 52.1% | ±27.7% |