TORM (NASDAQ:TRMD) Stock Price Up 0.4% – Should You Buy?

TORM plc (NASDAQ:TRMD) shares rose 0.4% on Wednesday . The stock traded as high as $30.33 and last traded at $30.13. Approximately 293,992 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 717,605 shares. The stock had previously closed at $30.01.

Wall Street Analyst Weigh In

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

TORM Price Performance

The business’s 50-day moving average price is $34.75 and its 200 day moving average price is $35.87. 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 market capitalization of $2.45 billion, a P/E ratio of 3.79 and a beta of 0.24.

TORM (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 36.06%. The company had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. During the same period last year, the business earned $2.14 earnings per share. Analysts anticipate that TORM plc will post 7.12 EPS for the current fiscal year.

TORM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were given a dividend of $1.80 per share. The ex-dividend date was Thursday, August 29th. This is a positive change from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 annualized dividend and a yield of 23.98%. TORM’s payout ratio is presently 66.29%.

Institutional Investors Weigh In On TORM

Several hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP lifted its position in TORM by 860.9% during the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock valued at $55,441,000 after purchasing an additional 1,281,176 shares during the last quarter. Acadian Asset Management LLC lifted its position in TORM by 320.5% during the second quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock valued at $49,189,000 after purchasing an additional 964,801 shares during the last quarter. Vanguard Group Inc. lifted its position in 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 purchasing an additional 85,937 shares during the last quarter. Renaissance Technologies LLC lifted its position in TORM by 38.9% during the second quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock valued at $25,945,000 after purchasing an additional 187,300 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in TORM by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 355,151 shares of the company’s stock valued at $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.