TORM (NASDAQ:TRMD) Trading Down 0.7%

TORM plc (NASDAQ:TRMD)’s share price fell 0.7% on Monday . The company traded as low as $33.87 and last traded at $34.01. 223,338 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 686,874 shares. The stock had previously closed at $34.24.

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 Stock Performance

The firm has a fifty day moving average of $36.35 and a 200 day moving average of $36.12. 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 stock has a market cap of $2.77 billion, a price-to-earnings ratio of 4.29 and a beta of 0.24.

TORM (NASDAQ:TRMD) last announced its earnings results on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. The company had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same period last year, the business posted $2.14 EPS. As a group, sell-side analysts forecast that TORM plc will post 7.1 EPS for the current year.

TORM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were given a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 21.18%. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from TORM’s previous quarterly dividend of $1.50. TORM’s dividend payout ratio (DPR) is currently 66.29%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in shares of TORM in the 2nd quarter valued at about $744,000. Lighthouse Investment Partners LLC grew its position in shares of TORM by 276.2% during the second quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company’s stock worth $4,267,000 after acquiring an additional 80,793 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of TORM in the 2nd quarter valued at $78,000. Cubist Systematic Strategies LLC raised its position in TORM by 42.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 147,802 shares of the company’s stock valued at $5,730,000 after purchasing an additional 44,259 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in TORM by 860.9% during the 2nd quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock worth $55,441,000 after purchasing an additional 1,281,176 shares during the period. 73.89% of the stock is currently 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.