TORM (NASDAQ:TRMD) Trading Down 1.9%

TORM plc (NASDAQ:TRMD) traded down 1.9% during mid-day trading on Wednesday . The stock traded as low as $34.31 and last traded at $34.62. 302,994 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 683,778 shares. The stock had previously closed at $35.29.

Analyst Upgrades and Downgrades

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 report on Tuesday, July 23rd.

TORM Stock Performance

The stock’s fifty day moving average price is $36.42 and its 200 day moving average price is $36.09. The company has a quick ratio of 2.94, a current ratio of 3.18 and a debt-to-equity ratio of 0.53.

TORM (NASDAQ:TRMD) last issued its quarterly earnings results on Thursday, August 15th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. The firm had revenue of $437.70 million for the quarter, compared to analyst estimates 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 prior year, the firm earned $2.14 EPS. Research analysts expect that TORM plc will post 7.1 EPS for the current fiscal year.

TORM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were paid a $1.80 dividend. This is a boost from TORM’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, August 29th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 21.03%. TORM’s dividend payout ratio is 66.41%.

Institutional Investors Weigh In On TORM

A number of institutional investors have recently made changes to their positions in the business. Marshall Wace LLP boosted its stake in shares of TORM by 860.9% in the 2nd quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock valued at $55,441,000 after purchasing an additional 1,281,176 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of TORM by 320.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock valued at $49,189,000 after purchasing an additional 964,801 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of TORM by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after purchasing an additional 85,937 shares in the last quarter. Norges Bank purchased a new stake in shares of TORM in the 4th quarter valued at $22,306,000. Finally, Renaissance Technologies LLC boosted its position in TORM by 38.9% during the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock valued at $25,945,000 after buying an additional 187,300 shares during the period. Hedge funds and other institutional investors 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.