TORM (NASDAQ:TRMD) Shares Down 1.4% – What’s Next?

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

Analyst Upgrades and Downgrades

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

TORM Stock Up 0.3 %

The company has a market cap of $2.45 billion, a P/E ratio of 3.81 and a beta of 0.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94. The company has a 50 day moving average of $35.01 and a 200-day moving average of $35.95.

TORM (NASDAQ:TRMD) last issued 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 return on equity of 36.06% and a net margin of 43.81%. The company had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. During the same quarter in the previous year, the firm earned $2.14 earnings per share. On average, equities analysts predict that TORM plc will post 7.1 earnings per share for the current year.

TORM Increases Dividend

The business also recently announced 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 of this dividend 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 23.91%. TORM’s payout ratio is 66.29%.

Hedge Funds Weigh In On TORM

Hedge funds and other institutional investors have recently modified their holdings of the company. Seven Grand Managers LLC bought a new stake in TORM in the 3rd quarter worth approximately $2,051,000. Atomi Financial Group Inc. boosted its stake in shares of TORM by 22.0% in the 3rd quarter. Atomi Financial Group Inc. now owns 15,461 shares of the company’s stock valued at $529,000 after purchasing an additional 2,784 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of TORM during the 2nd quarter valued at $744,000. Lighthouse Investment Partners LLC raised its position in TORM by 276.2% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company’s stock worth $4,267,000 after purchasing an additional 80,793 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in TORM in the second quarter worth $78,000. 73.89% of the stock is currently owned by hedge funds and other 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.