10 Oversold Value Stocks To Buy Right Now

7. TORM plc (NASDAQ:TRMD)

Year-to-Date Decline: 30.97% 

Forward PE: 4.42

Number of Hedge Fund Holders: 25

TORM plc (NASDAQ:TRMD) is one of the world’s largest owners and operators of product tankers that transport refined oil products and chemicals. The firm was founded in 1889 and has 9 offices in Denmark, India, the Philippines, Singapore, the UK, the UAE, and the US. TORM has a highly diversified blue-chip customer base comprising top independent oil companies, state-owned oil companies, oil traders, and refiners.

TORM is a pure-play product tanker company that differs from most of its peers in the industry. The firm follows a unique approach and integrates both commercial and technical management in-house. Its operating model with integrated in-house commercial and technical management has proved to be one of the strongest in the industry. As evident from the high earnings and free cash flow achieved in recent years, the firm is in a good position to continue growth.

The company’s performance in the third quarter was promising despite the impact of seasonality. Fleet-wide freight rates were slightly above last year’s levels. The firm entered into an agreement to acquire eight second-hand 2014-15 built MR vessels. In the first nine months of 2024, adjusted EBITDA was 709.2 million and net profit was $534.1 million climbing over the year, reflecting the strong market fundamentals and the growth of its fleet.

TORM plc (NASDAQ:TRMD) is a leading global product tanker company with a modern and well-maintained fleet. The firm has been dedicated to operational excellence since its inception in 1889. Customers globally rely on the company to move the gasoline, naphtha, diesel, and jet fuel that enable businesses to run every day.