TORM (NASDAQ:TRMD) Trading 1.1% Higher

TORM plc (NASDAQ:TRMD)’s share price was up 1.1% during mid-day trading on Thursday . The stock traded as high as $36.78 and last traded at $36.45. Approximately 131,967 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 683,633 shares. The stock had previously closed at $36.05.

Analyst Ratings Changes

Separately, Evercore ISI lifted their target price on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd.

TORM Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94. The company’s 50 day simple moving average is $36.70 and its two-hundred day simple moving average is $36.03.

TORM (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. TORM had a return on equity of 36.06% and a net margin of 43.81%. The business had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. During the same period last year, the company earned $2.14 earnings per share. Equities research analysts forecast that TORM plc will post 7.1 earnings per share for the current year.

TORM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were paid a $1.80 dividend. This is a boost from TORM’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $7.20 annualized dividend and a dividend yield of 19.73%. TORM’s payout ratio is presently 66.41%.

Institutional Trading of TORM

A number of institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI bought a new position in shares of TORM in the 2nd quarter valued at approximately $26,000. Creekmur Asset Management LLC bought a new stake in shares of TORM during the 4th quarter worth $27,000. Scarborough Advisors LLC acquired a new position in TORM in the 4th quarter valued at $37,000. Fifth Third Bancorp bought a new position in TORM in the 2nd quarter worth $43,000. Finally, Syquant Capital Sas acquired a new position in TORM during the 2nd quarter worth $46,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.

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.