TORM (NASDAQ:TRMD) Shares Down 1.3% – What’s Next?

TORM plc (NASDAQ:TRMD)’s stock price traded down 1.3% during trading on Tuesday . The company traded as low as $24.93 and last traded at $25.15. 396,116 shares changed hands during trading, a decline of 47% from the average session volume of 741,396 shares. The stock had previously closed at $25.49.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TRMD shares. Evercore ISI boosted their price target on 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 research note on Friday, September 27th.

TORM Stock Performance

The firm has a 50-day moving average price of $32.25 and a 200-day moving average price of $35.27. 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 announced its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. TORM had a return on equity of 36.06% and a net margin of 43.81%. The business had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. During the same period in the previous year, the company earned $2.14 EPS. As a group, research analysts expect that TORM plc will post 7.12 earnings per share 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 is an increase from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 annualized dividend and a yield of 29.03%. The ex-dividend date of this dividend was Thursday, August 29th. TORM’s payout ratio is currently 67.44%.

Institutional Investors Weigh In On TORM

A number of institutional investors have recently added to or reduced their stakes in TRMD. National Bank of Canada FI acquired a new position in TORM during the 2nd quarter worth $26,000. Assetmark Inc. raised its holdings in TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock worth $41,000 after acquiring an additional 516 shares in the last quarter. Fifth Third Bancorp acquired a new position in TORM during the second quarter valued at approximately $43,000. Syquant Capital Sas bought a new position in TORM in the second quarter valued at approximately $46,000. Finally, Headlands Technologies LLC acquired a new position in shares of TORM during the 1st quarter worth approximately $51,000. 73.89% of the stock is owned by institutional investors and hedge funds.

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.