TORM (NASDAQ:TRMD) Trading 1.3% Higher – What’s Next?

TORM plc (NASDAQ:TRMD) shares traded up 1.3% on Friday . The company traded as high as $27.50 and last traded at $27.32. 358,636 shares traded hands during trading, a decline of 51% from the average session volume of 729,505 shares. The stock had previously closed at $26.96.

Wall Street Analyst Weigh In

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

TORM Stock Up 0.9 %

The firm has a market cap of $2.22 billion, a PE ratio of 3.45 and a beta of 0.24. 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 business has a 50-day moving average price of $33.89 and a two-hundred day moving average price of $35.63.

TORM (NASDAQ:TRMD) last issued its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. The firm had revenue of $437.70 million for the quarter, compared to analysts’ expectations of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 36.06%. During the same quarter last year, the company earned $2.14 earnings per share. On average, equities research analysts expect that TORM plc will post 7.12 EPS for the current year.

TORM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were paid a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 26.47%. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from TORM’s previous quarterly dividend of $1.50. TORM’s dividend payout ratio is currently 66.29%.

Institutional Investors Weigh In On TORM

Several large investors have recently modified their holdings of TRMD. National Bank of Canada FI purchased a new stake in shares of TORM in the second quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of TORM by 7.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock valued at $433,000 after purchasing an additional 811 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TORM by 12.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,338 shares of the company’s stock worth $365,000 after purchasing an additional 1,030 shares during the last quarter. Hibernia Wealth Partners LLC lifted its holdings in shares of TORM by 5.5% during the third quarter. Hibernia Wealth Partners LLC now owns 20,974 shares of the company’s stock worth $717,000 after purchasing an additional 1,092 shares during the period. Finally, Fifth Third Bancorp purchased a new position in TORM in the 2nd quarter valued at $43,000. 73.89% of the stock is owned by institutional investors and hedge funds.

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.