TORM (NASDAQ:TRMD) Stock Price Up 1.1%

Shares of TORM plc (NASDAQ:TRMD) were up 1.1% during trading on Thursday . The company traded as high as $36.78 and last traded at $36.45. Approximately 131,967 shares were traded during trading, a decline of 81% from the average daily volume of 683,633 shares. The stock had previously closed at $36.05.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI upped their target price 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 Stock Down 3.6 %

The company has a current ratio of 3.18, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average price is $36.64 and its 200-day moving average price is $36.05.

TORM (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $325.38 million. During the same quarter in the previous year, the business earned $2.14 earnings per share. Sell-side analysts predict that TORM plc will post 7.1 EPS for the current year.

TORM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 20.51%. This is an increase from TORM’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, August 29th. TORM’s dividend payout ratio is 66.41%.

Institutional Trading of TORM

A number of institutional investors and hedge funds have recently bought and sold shares of TRMD. Point72 Asset Management L.P. bought a new stake in shares of TORM during the second quarter valued at approximately $744,000. Lighthouse Investment Partners LLC increased its holdings in shares of 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 in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of TORM in the second quarter worth $78,000. Cubist Systematic Strategies LLC boosted its position 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 increased its holdings in TORM by 860.9% in the 2nd 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 in the last quarter. 73.89% of the stock is currently owned by 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.