TORM (NASDAQ:TRMD) Shares Up 1.2%

TORM plc (NASDAQ:TRMD) shares were up 1.2% during trading on Friday . The stock traded as high as $34.23 and last traded at $34.08. Approximately 93,585 shares were traded during trading, a decline of 86% from the average daily volume of 684,269 shares. The stock had previously closed at $33.69.

Analysts Set New Price Targets

Separately, Evercore ISI increased their price objective on shares of TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd.

TORM Price Performance

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 business’s 50 day moving average price is $36.92 and its 200 day moving average price is $35.98.

TORM (NASDAQ:TRMD) last announced its quarterly earnings results on Thursday, August 15th. The company reported $2.02 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 firm had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. During the same period last year, the business earned $2.14 EPS. As a group, equities analysts anticipate that TORM plc will post 7.1 EPS for the current fiscal year.

TORM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were issued a dividend of $1.80 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $7.20 dividend on an annualized basis and a yield of 21.08%. This is an increase from TORM’s previous quarterly dividend of $1.50. TORM’s payout ratio is currently 66.41%.

Institutional Investors Weigh In On TORM

A number of institutional investors have recently bought and sold shares of TRMD. National Bank of Canada FI purchased a new position in shares of TORM in the second quarter valued at $26,000. Creekmur Asset Management LLC bought a new position in TORM during the fourth quarter valued at approximately $27,000. Scarborough Advisors LLC acquired a new position in TORM during the fourth quarter valued at approximately $37,000. Fifth Third Bancorp acquired a new stake in TORM during the second quarter worth $43,000. Finally, Syquant Capital Sas bought a new position in shares of TORM during the second quarter valued at $46,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

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.