5 Best Multibagger Stocks to Buy Now

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In this article, we discuss the 5 best multibagger stocks to buy now. If you want to read our discussion on the macroeconomic situation, go directly to 10 Best Multibagger Stocks to Buy Now.

5. TORM plc (NASDAQ:TRMD)

Number of Hedge Fund Holders: 12

1-Year Stock Price Performance: 178.27%

TORM plc (NASDAQ:TRMD) is a Danish carrier of energy products around the world with a fleet of over 80 vessels.

Experts believe that TORM plc (NASDAQ:TRMD) will execute strong investments if the free cash flow generation ability of the company improves further. In Q2 2022, the company was able to obtain charter equivalent rates that were twice higher than those obtained during the same period last year. TORM plc (NASDAQ:TRMD) is anticipating a further improvement in these rates during Q3 2022.

As a result of solid Q2 2022 results, TORM plc (NASDAQ:TRMD) was able to distribute $47 million to shareholders in the form of dividends and share buybacks. The stock boasts a healthy one-year forward dividend yield of 6.14% as of September 26. Experts anticipate the company to pay out 40% of its market value as dividends to shareholders for the next three years as the tanker spot rates are going through the roof, aiding the company in recuperating some of the losses incurred during the peak of the COVID-19 pandemic.

Millennium Management increased its stake in TORM plc (NASDAQ:TRMD) by over 2000% during Q2 2022.

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