TORM (NASDAQ:TRMD) Upgraded to “Hold” by Fearnley Fonds

Fearnley Fonds upgraded shares of TORM (NASDAQ:TRMD) to a hold rating in a research report released on Friday morning, Zacks.com reports.

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

TORM Stock Performance

Shares of TORM stock opened at $34.19 on Friday. The company has a quick ratio of 2.94, a current ratio of 3.18 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $36.24 and a 200-day moving average of $36.11. TORM has a 1-year low of $25.28 and a 1-year high of $40.47.

TORM (NASDAQ:TRMD) last issued its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. The company had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same quarter last year, the company posted $2.14 EPS. Research analysts expect that TORM will post 7.1 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. Investors of record on Thursday, August 29th were issued 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 annualized dividend and a dividend yield of 21.06%. TORM’s dividend payout ratio (DPR) is 66.41%.

Hedge Funds Weigh In On TORM

Large investors have recently bought and sold shares of the company. Marshall Wace LLP increased its stake in shares of TORM by 860.9% in the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock valued at $55,441,000 after buying an additional 1,281,176 shares during the period. Acadian Asset Management LLC increased its position in 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 acquiring an additional 964,801 shares during the period. Vanguard Group Inc. raised its stake in shares of TORM by 7.9% during the first quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after acquiring an additional 85,937 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of TORM by 38.9% during the second quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock worth $25,945,000 after purchasing an additional 187,300 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of TORM by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 355,151 shares of the company’s stock worth $13,769,000 after purchasing an additional 8,185 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.