TORM (NASDAQ:TRMD) Trading Down 1.1% – Here’s What Happened

TORM plc (NASDAQ:TRMD) was down 1.1% on Tuesday . The company traded as low as $26.40 and last traded at $26.51. Approximately 377,657 shares changed hands during trading, a decline of 49% from the average daily volume of 733,448 shares. The stock had previously closed at $26.81.

Analyst Ratings Changes

Several brokerages recently issued reports on TRMD. Evercore ISI lifted their price objective on shares of TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Fearnley Fonds raised shares of TORM to a “hold” rating in a report on Friday, September 27th.

TORM Price Performance

The stock’s 50 day simple moving average is $33.46 and its 200-day simple moving average is $35.53. The company has a market capitalization of $2.13 billion, a PE ratio of 3.40 and a beta of 0.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94.

TORM (NASDAQ:TRMD) last posted its earnings results on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. The firm had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same quarter in the prior year, the company posted $2.14 earnings per share. As a group, equities analysts forecast that TORM plc will post 7.12 earnings per share for the current fiscal year.

TORM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 27.51%. 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. TORM’s payout ratio is 67.31%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TRMD. National Bank of Canada FI acquired a new position in TORM in the second quarter valued at $26,000. Fifth Third Bancorp acquired a new stake in TORM during the 2nd quarter worth approximately $43,000. Syquant Capital Sas purchased a new stake in TORM during the second quarter worth approximately $46,000. Headlands Technologies LLC purchased a new position in shares of TORM in the 1st quarter valued at $51,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of TORM during the 2nd quarter valued at $78,000. 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.