TORM (NASDAQ:TRMD) Trading Down 3.8%

TORM plc (NASDAQ:TRMD) shares were down 3.8% on Friday . The company traded as low as $34.45 and last traded at $35.04. Approximately 366,032 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 684,378 shares. The stock had previously closed at $36.44.

Analyst Upgrades and Downgrades

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

TORM Trading Down 3.3 %

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 firm’s 50 day moving average is $36.68 and its 200-day moving average is $36.03.

TORM (NASDAQ:TRMD) last released its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 36.06%. The business had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. During the same period last year, the business earned $2.14 EPS. On average, equities 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 $1.80 dividend. The ex-dividend date was Thursday, August 29th. This is an increase from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 annualized dividend and a yield of 20.44%. TORM’s dividend payout ratio (DPR) is currently 66.41%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of TORM in the 4th quarter valued at approximately $22,306,000. PNC Financial Services Group Inc. lifted its holdings in shares of TORM by 65.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,420 shares of the company’s stock worth $286,000 after buying an additional 3,720 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of TORM during the fourth quarter worth approximately $546,000. CWA Asset Management Group LLC acquired a new position in shares of TORM during the fourth quarter worth approximately $681,000. Finally, Scarborough Advisors LLC acquired a new position in shares of TORM in the fourth quarter valued at $37,000. 73.89% of the stock is 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.