TORM (NASDAQ:TRMD) Trading Down 4.1%

TORM plc (NASDAQ:TRMD)’s share price was down 4.1% during mid-day trading on Friday . The stock traded as low as $33.78 and last traded at $33.91. Approximately 393,082 shares traded hands during trading, a decline of 43% from the average daily volume of 685,554 shares. The stock had previously closed at $35.36.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI lifted their target price on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd.

TORM Price Performance

The company has a current ratio of 3.18, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $36.42 and a two-hundred day simple moving average of $36.09.

TORM (NASDAQ:TRMD) last announced its quarterly earnings data 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 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 firm posted $2.14 EPS. Analysts anticipate that TORM plc will post 7.1 earnings per share for the current year.

TORM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were paid a dividend of $1.80 per share. This is a boost from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a dividend yield of 21.08%. The ex-dividend date of this dividend was Thursday, August 29th. TORM’s dividend payout ratio is presently 66.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. National Bank of Canada FI purchased a new position in TORM during the 2nd quarter valued at about $26,000. Creekmur Asset Management LLC purchased a new stake in TORM in the 4th quarter worth approximately $27,000. Scarborough Advisors LLC bought a new position in TORM in the 4th quarter valued at $37,000. Fifth Third Bancorp purchased a new position in shares of TORM during the 2nd quarter valued at $43,000. Finally, Syquant Capital Sas bought a new position in shares of TORM in the second quarter worth $46,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

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.