TORM (NASDAQ:TRMD) Trading 1.2% Higher

Shares of TORM plc (NASDAQ:TRMD) traded up 1.2% on Friday . The company traded as high as $34.23 and last traded at $34.08. 93,585 shares changed hands during trading, a decline of 86% from the average session volume of 684,269 shares. The stock had previously closed at $33.69.

Analyst Upgrades and Downgrades

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

TORM Trading Up 1.1 %

The stock’s 50 day moving average is $36.82 and its 200-day moving average is $35.99. 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 issued its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 36.06%. The business had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $325.38 million. During the same period in the previous year, the company earned $2.14 earnings per share. As a group, analysts expect that TORM plc will post 7.1 earnings per share for the current fiscal year.

TORM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were given a $1.80 dividend. The ex-dividend date was Thursday, August 29th. This is a boost from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 annualized dividend and a yield of 21.15%. TORM’s dividend payout ratio is 66.41%.

Institutional Trading of TORM

Institutional investors and hedge funds have recently modified their holdings of the business. National Bank of Canada FI purchased a new stake in shares of TORM during the second quarter valued at $26,000. Creekmur Asset Management LLC bought a new position in TORM during the 4th quarter valued at about $27,000. Scarborough Advisors LLC purchased a new stake in shares of TORM during the 4th quarter valued at about $37,000. Fifth Third Bancorp bought a new stake in shares of TORM in the second quarter worth approximately $43,000. Finally, Syquant Capital Sas bought a new stake in shares of TORM in the second quarter worth approximately $46,000. 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.