TORM (NASDAQ:TRMD) Stock Price Down 4.9%

TORM plc (NASDAQ:TRMD) shares fell 4.9% on Tuesday . The stock traded as low as $31.82 and last traded at $32.50. 2,351,518 shares changed hands during mid-day trading, an increase of 237% from the average session volume of 697,844 shares. The stock had previously closed at $34.19.

Wall Street Analyst Weigh In

Several research firms have weighed in on TRMD. Fearnley Fonds raised shares of TORM to a “hold” rating in a research note on Friday. Evercore ISI lifted their price target on shares of TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd.

TORM Stock Down 4.7 %

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 firm’s 50-day moving average price is $36.24 and its 200 day moving average price is $36.11.

TORM (NASDAQ:TRMD) last posted its earnings results on Thursday, August 15th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.99 by $0.03. The company had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 36.06%. During the same period in the previous year, the firm posted $2.14 earnings per share. On average, equities analysts predict that TORM plc will post 7.1 earnings per share for the current fiscal year.

TORM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were paid a $1.80 dividend. This is a positive change 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 yield of 22.09%. TORM’s dividend payout ratio (DPR) is 66.41%.

Institutional Investors Weigh In On TORM

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRMD. Norges Bank purchased a new stake in TORM in the 4th quarter valued at about $22,306,000. PNC Financial Services Group Inc. grew its position in shares of TORM by 65.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,420 shares of the company’s stock valued at $286,000 after acquiring an additional 3,720 shares during the period. CWA Asset Management Group LLC bought a new position in shares of TORM during the 4th quarter valued at approximately $681,000. Scarborough Advisors LLC bought a new position in shares of TORM during the 4th quarter valued at approximately $37,000. Finally, Creekmur Asset Management LLC bought a new position in shares of TORM during the 4th quarter valued at approximately $27,000. 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.