TORM (NASDAQ:TRMD) Trading Up 2.3%

Shares of TORM plc (NASDAQ:TRMD) traded up 2.3% during mid-day trading on Wednesday . The stock traded as high as $33.47 and last traded at $33.19. 406,195 shares were traded during trading, a decline of 43% from the average session volume of 709,464 shares. The stock had previously closed at $32.44.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TRMD shares. Evercore ISI upped 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. Fearnley Fonds upgraded TORM to a “hold” rating in a report on Friday, September 27th.

TORM Stock Performance

The company has a market cap of $2.68 billion, a price-to-earnings ratio of 4.20 and a beta of 0.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.94 and a current ratio of 3.18. The stock’s fifty day simple moving average is $36.08 and its two-hundred day simple moving average is $36.10.

TORM (NASDAQ:TRMD) last released its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share 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 quarter in the previous year, the firm earned $2.14 EPS. Equities research analysts anticipate that TORM plc will post 7.1 EPS for the current year.

TORM Increases Dividend

The business also recently announced 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 an increase from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a yield of 21.89%. The ex-dividend date of this dividend was Thursday, August 29th. TORM’s payout ratio is presently 66.29%.

Institutional Trading of TORM

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

About TORM

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.