TORM (NASDAQ:TRMD) Trading Down 1.1% – Should You Sell?

Shares of TORM plc (NASDAQ:TRMD) were down 1.1% during trading on Tuesday . The stock traded as low as $26.40 and last traded at $26.51. Approximately 377,657 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 733,448 shares. The stock had previously closed at $26.81.

Analyst Upgrades and Downgrades

Several analysts have commented on TRMD shares. 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 research note on Tuesday, July 23rd. Fearnley Fonds upgraded shares of TORM to a “hold” rating in a report on Friday, September 27th.

TORM Stock Performance

The business’s fifty day moving average price is $32.99 and its two-hundred day moving average price is $35.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.94 and a current ratio of 3.18. The stock has a market capitalization of $2.13 billion, a P/E ratio of 3.35 and a beta of 0.24.

TORM (NASDAQ:TRMD) last posted its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. The firm had revenue of $437.70 million for the quarter, compared to the consensus estimate of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 36.06%. During the same period in the previous year, the firm posted $2.14 EPS. As a group, sell-side analysts forecast that TORM plc will post 7.12 earnings per share for the current year.

TORM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 27.59%. This is an increase from TORM’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, August 29th. TORM’s dividend payout ratio is presently 67.31%.

Hedge Funds Weigh In On TORM

Hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new position in TORM during the 2nd quarter valued at about $26,000. Fifth Third Bancorp bought a new position in TORM during the 2nd quarter valued at about $43,000. Syquant Capital Sas bought a new position in TORM during the 2nd quarter valued at about $46,000. Headlands Technologies LLC purchased a new stake in TORM in the 1st quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd purchased a new stake in TORM in the 2nd quarter valued at about $78,000. 73.89% of the stock is currently owned by 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.