TORM (NASDAQ:TRMD) Shares Down 0.6%

TORM plc (NASDAQ:TRMD)’s stock price traded down 0.6% on Monday . The company traded as low as $34.66 and last traded at $34.90. 169,689 shares were traded during mid-day trading, a decline of 75% from the average session volume of 685,099 shares. The stock had previously closed at $35.11.

Wall Street Analyst Weigh In

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

TORM Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94. The firm has a market capitalization of $2.83 billion, a PE ratio of 4.41 and a beta of 0.24. The company’s fifty day simple moving average is $36.64 and its 200 day simple moving average is $36.09.

TORM (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.99 by $0.03. The company had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 36.06%. During the same period last year, the firm earned $2.14 EPS. As a group, equities research analysts expect 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. This is a boost from TORM’s previous quarterly dividend of $1.50. 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 20.70%. TORM’s dividend payout ratio is 66.29%.

Hedge Funds Weigh In On TORM

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in TORM in the 4th quarter worth approximately $22,306,000. SG Americas Securities LLC boosted its stake in TORM by 597.3% during the second quarter. SG Americas Securities LLC now owns 22,914 shares of the company’s stock valued at $888,000 after buying an additional 19,628 shares during the period. BNP Paribas Financial Markets purchased a new position in TORM during the first quarter worth about $1,229,000. Quantbot Technologies LP purchased a new position in TORM during the first quarter worth about $2,836,000. Finally, Swiss National Bank increased its stake in TORM by 18.4% in the 1st quarter. Swiss National Bank now owns 79,609 shares of the company’s stock worth $2,700,000 after acquiring an additional 12,353 shares during 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.