TORM (NASDAQ:TRMD) Shares Up 0.6% – Here’s What Happened

TORM plc (NASDAQ:TRMD) traded up 0.6% on Friday . The company traded as high as $26.42 and last traded at $26.15. 183,350 shares were traded during mid-day trading, a decline of 75% from the average session volume of 739,342 shares. The stock had previously closed at $26.00.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Fearnley Fonds raised shares of TORM to a “hold” rating in a report on Friday, September 27th.

TORM Trading Up 0.1 %

The firm’s 50 day moving average price is $32.76 and its two-hundred day moving average price is $35.33. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.94 and a current ratio of 3.18.

TORM (NASDAQ:TRMD) last announced 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 business had revenue of $437.70 million during 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 quarter in the previous year, the firm posted $2.14 EPS. Research analysts expect that TORM plc will post 7.12 EPS for the current fiscal year.

TORM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 27.66%. This is a boost from TORM’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, August 29th. TORM’s dividend payout ratio is currently 67.44%.

Institutional Investors Weigh In On TORM

Several large investors have recently modified their holdings of TRMD. Marshall Wace LLP lifted its stake in shares of TORM by 860.9% in the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock valued at $55,441,000 after buying an additional 1,281,176 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of TORM by 320.5% in 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. Hsbc Holdings PLC purchased a new stake in shares of TORM in the second quarter valued at about $9,619,000. International Assets Investment Management LLC purchased a new stake in shares of TORM in the third quarter valued at about $7,359,000. Finally, Renaissance Technologies LLC raised its holdings in shares of TORM by 38.9% in 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. 73.89% of the stock is currently owned by institutional investors and hedge funds.

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.