TORM (NASDAQ:TRMD) Shares Down 0% – Here’s Why

TORM plc (NASDAQ:TRMD)’s share price dropped 0% during mid-day trading on Thursday . The company traded as low as $31.88 and last traded at $31.91. Approximately 149,797 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 713,069 shares. The stock had previously closed at $31.92.

Wall Street Analyst Weigh In

TRMD has been the subject of a number of recent research reports. Fearnley Fonds raised shares of TORM to a “hold” rating in a research report on Friday, September 27th. Evercore ISI increased their price target on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd.

TORM Trading Up 0.6 %

The firm’s fifty day moving average price is $35.44 and its 200-day moving average price is $36.03. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 4.03 and a beta of 0.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94.

TORM (NASDAQ:TRMD) last posted its earnings results on Thursday, August 15th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.99 by $0.03. The firm had revenue of $437.70 million during the quarter, compared to analysts’ expectations 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. On average, equities analysts expect that TORM plc will post 7.1 EPS for the current fiscal year.

TORM Increases Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 22.43%. TORM’s dividend payout ratio is presently 66.29%.

Institutional Investors Weigh In On TORM

Several institutional investors have recently bought and sold shares of TRMD. National Bank of Canada FI acquired a new stake in shares of TORM in the 2nd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC boosted its stake in TORM by 7.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock valued at $433,000 after purchasing an additional 811 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in shares of TORM during the 4th quarter valued at $27,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of TORM by 12.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,338 shares of the company’s stock valued at $365,000 after buying an additional 1,030 shares during the period. Finally, Fifth Third Bancorp bought a new stake in TORM in the second quarter worth about $43,000. Institutional investors and hedge funds 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.