TORM (NASDAQ:TRMD) Shares Down 1.4% – Here’s What Happened

TORM plc (NASDAQ:TRMD)’s share price was down 1.4% during mid-day trading on Monday . The stock traded as low as $30.84 and last traded at $31.20. Approximately 398,139 shares changed hands during trading, a decline of 44% from the average daily volume of 712,998 shares. The stock had previously closed at $31.64.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TRMD. Fearnley Fonds upgraded TORM to a “hold” rating in a research note on Friday, September 27th. Evercore ISI boosted their price target 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 Trading Down 1.1 %

The firm has a 50-day moving average price of $35.23 and a 200-day moving average price of $36.01. 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 stock has a market capitalization of $2.55 billion, a PE ratio of 3.93 and a beta of 0.24.

TORM (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, August 15th. The company reported $2.02 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 for the quarter, compared to analyst estimates of $325.38 million. During the same quarter in the previous year, the firm posted $2.14 earnings per share. As a group, equities analysts forecast that TORM plc will post 7.1 EPS for the current fiscal year.

TORM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were given a $1.80 dividend. This is an increase from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a yield of 23.01%. The ex-dividend date of this dividend was Thursday, August 29th. TORM’s dividend payout ratio (DPR) is currently 66.29%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. National Bank of Canada FI bought a new position in shares of TORM during the 2nd quarter valued at $26,000. Creekmur Asset Management LLC bought a new stake in shares of TORM in the 4th quarter valued at about $27,000. Fifth Third Bancorp purchased a new position in TORM in the 2nd quarter worth approximately $43,000. Syquant Capital Sas bought a new stake in TORM in the second quarter valued at approximately $46,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of TORM during the fourth quarter valued at approximately $37,000. Hedge funds and other 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.