TORM (NASDAQ:TRMD) Trading Up 1.9% – Here’s Why

TORM plc (NASDAQ:TRMD) shares were up 1.9% on Thursday . The company traded as high as $25.55 and last traded at $25.21. Approximately 693,803 shares changed hands during trading, a decline of 7% from the average daily volume of 747,574 shares. The stock had previously closed at $24.75.

Analysts Set New Price Targets

Several research firms recently issued reports on TRMD. Fearnley Fonds raised TORM to a “hold” rating in a research report on Friday, September 27th. Evercore ISI lifted their target price on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd.

TORM Stock Up 0.2 %

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 stock has a market cap of $2.02 billion, a price-to-earnings ratio of 3.23 and a beta of 0.27. The business’s 50 day moving average is $31.98 and its 200-day moving average is $35.21.

TORM (NASDAQ:TRMD) last posted its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. The firm had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same period in the prior year, the company earned $2.14 EPS. On average, sell-side analysts predict that TORM plc will post 7.12 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 given a dividend of $1.80 per share. This is an increase 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 29.03%. TORM’s dividend payout ratio (DPR) is presently 67.31%.

Institutional Investors Weigh In On TORM

A number of hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of TORM in the 1st quarter valued at $1,229,000. Quantbot Technologies LP purchased a new stake in shares of TORM during the 1st quarter worth approximately $2,836,000. SG Americas Securities LLC acquired a new position in TORM in the first quarter valued at $115,000. PFG Advisors purchased a new position in TORM during the 1st quarter worth approximately $237,000. Finally, Swiss National Bank boosted its stake in shares of TORM by 18.4% during the first quarter. Swiss National Bank now owns 79,609 shares of the company’s stock worth $2,700,000 after buying an additional 12,353 shares during the period. Hedge funds and other institutional investors own 73.89% of the company’s stock.

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.