TORM (NASDAQ:TRMD) Trading Down 0.6%

TORM plc (NASDAQ:TRMD)’s stock price fell 0.6% during trading on Monday . The stock traded as low as $34.66 and last traded at $34.90. 169,689 shares were traded during trading, a decline of 75% from the average session volume of 685,099 shares. The stock had previously closed at $35.11.

Wall Street Analyst Weigh In

Separately, Evercore ISI boosted their price objective on shares of TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd.

TORM Stock Performance

The firm has a market capitalization of $2.83 billion, a P/E ratio of 4.41 and a beta of 0.24. The company has a current ratio of 3.18, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53. The business’s 50 day simple moving average is $36.64 and its two-hundred day simple moving average is $36.09.

TORM (NASDAQ:TRMD) last issued its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 36.06%. The company had revenue of $437.70 million for the quarter, compared to the consensus estimate of $325.38 million. During the same quarter in the prior year, the firm earned $2.14 earnings per share. Sell-side analysts anticipate that TORM plc will post 7.1 EPS for the current fiscal year.

TORM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were paid a $1.80 dividend. 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 dividend yield of 20.70%. The ex-dividend date was Thursday, August 29th. TORM’s dividend payout ratio (DPR) is 66.29%.

Institutional Trading of TORM

A number of hedge funds have recently bought and sold shares of the company. National Bank of Canada FI bought a new stake in shares of TORM during the 2nd quarter valued at about $26,000. Creekmur Asset Management LLC bought a new stake in TORM during the fourth quarter valued at approximately $27,000. Scarborough Advisors LLC purchased a new stake in TORM during the fourth quarter valued at approximately $37,000. Fifth Third Bancorp bought a new position in TORM in the second quarter worth approximately $43,000. Finally, Syquant Capital Sas purchased a new position in shares of TORM during the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

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.