TORM (NASDAQ:TRMD) Stock Price Down 4.1%

TORM plc (NASDAQ:TRMD) shares fell 4.1% during trading on Friday . The company traded as low as $33.78 and last traded at $33.91. 393,082 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 685,554 shares. The stock had previously closed at $35.36.

Wall Street Analyst Weigh In

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

TORM Trading Down 3.4 %

The business’s 50-day simple moving average is $36.42 and its 200 day simple moving average is $36.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.94 and a current ratio of 3.18.

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, beating analysts’ consensus estimates of $1.99 by $0.03. TORM had a return on equity of 36.06% and a net margin of 43.81%. The firm had revenue of $437.70 million for the quarter, compared to analysts’ expectations of $325.38 million. During the same period last year, the firm earned $2.14 earnings per share. As a group, sell-side analysts predict that TORM plc will post 7.1 EPS for the current fiscal year.

TORM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were given a $1.80 dividend. The ex-dividend date was Thursday, August 29th. This represents a $7.20 annualized dividend and a yield of 21.08%. This is an increase from TORM’s previous quarterly dividend of $1.50. TORM’s payout ratio is presently 66.41%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TRMD. National Bank of Canada FI purchased a new stake in TORM during the 2nd quarter valued at $26,000. Creekmur Asset Management LLC purchased a new stake in shares of TORM during the fourth quarter worth about $27,000. Scarborough Advisors LLC purchased a new position in TORM during the 4th quarter valued at about $37,000. Fifth Third Bancorp purchased a new position in TORM during the 2nd quarter valued at about $43,000. Finally, Syquant Capital Sas bought a new position in TORM during the 2nd quarter valued at approximately $46,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

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.