TORM (NASDAQ:TRMD) Shares Up 0.1%

TORM plc (NASDAQ:TRMD) traded up 0.1% during mid-day trading on Thursday . The company traded as high as $33.17 and last traded at $33.06. 183,669 shares were traded during mid-day trading, a decline of 74% from the average session volume of 709,964 shares. The stock had previously closed at $33.02.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Fearnley Fonds raised shares of TORM to a “hold” rating in a research report on Friday, September 27th. Evercore ISI lifted their target price 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 Trading Down 0.0 %

The company has a market capitalization of $2.69 billion, a P/E ratio of 4.17 and a beta of 0.24. The company has a 50-day simple moving average of $35.97 and a 200 day simple moving average of $36.08. 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 posted its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the firm posted $2.14 EPS. Sell-side analysts expect that TORM plc will post 7.1 earnings per share for the current 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 given a $1.80 dividend. The ex-dividend date was Thursday, August 29th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 21.81%. This is an increase from TORM’s previous quarterly dividend of $1.50. TORM’s dividend payout ratio (DPR) is currently 66.29%.

Hedge Funds Weigh In On TORM

A number of hedge funds have recently made changes to their positions in TRMD. Marshall Wace LLP raised its position in TORM by 860.9% in the second 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 in the last quarter. Acadian Asset Management LLC lifted its position in shares of TORM by 320.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock worth $49,189,000 after buying an additional 964,801 shares during the period. Hsbc Holdings PLC acquired a new stake in TORM in the 2nd quarter valued at $9,619,000. Renaissance Technologies LLC grew its position in TORM by 38.9% in the second quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock valued at $25,945,000 after acquiring an additional 187,300 shares during the period. Finally, Vanguard Group Inc. raised its stake in TORM by 7.9% during the first quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock worth $41,221,000 after acquiring an additional 85,937 shares in the last quarter. Institutional investors and hedge funds 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.