TORM (NASDAQ:TRMD) Trading Down 0.4% – Should You Sell?

TORM plc (NASDAQ:TRMD) shares dropped 0.4% during mid-day trading on Thursday . The company traded as low as $29.97 and last traded at $29.98. Approximately 402,147 shares traded hands during trading, a decline of 44% from the average daily volume of 718,974 shares. The stock had previously closed at $30.11.

Wall Street Analyst Weigh In

TRMD has been the topic of a number of recent research reports. Evercore ISI boosted 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. Fearnley Fonds upgraded shares of TORM to a “hold” rating in a report on Friday, September 27th.

TORM Stock Down 0.4 %

The business has a 50 day simple moving average of $34.89 and a two-hundred day simple moving average of $35.91. The company has a current ratio of 3.18, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53.

TORM (NASDAQ:TRMD) last released its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share 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 quarter in the previous year, the firm earned $2.14 EPS. Equities analysts expect that TORM plc will post 7.12 earnings per share for the current fiscal year.

TORM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were paid a dividend of $1.80 per share. The ex-dividend date was Thursday, August 29th. This represents a $7.20 annualized dividend and a yield of 24.02%. This is a boost from TORM’s previous quarterly dividend of $1.50. TORM’s dividend payout ratio is presently 67.44%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. National Bank of Canada FI acquired a new stake in shares of TORM during the second quarter worth $26,000. Fifth Third Bancorp acquired a new stake in TORM during the second quarter worth about $43,000. Syquant Capital Sas acquired a new position in TORM in the second quarter valued at approximately $46,000. Headlands Technologies LLC bought a new position in shares of TORM during the first quarter valued at approximately $51,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of TORM during the second quarter valued at approximately $78,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

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.