TORM (NASDAQ:TRMD) Stock Price Down 1.2%

Shares of TORM plc (NASDAQ:TRMD) traded down 1.2% on Tuesday . The company traded as low as $32.43 and last traded at $32.71. 243,715 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 685,057 shares. The stock had previously closed at $33.12.

Analyst Ratings Changes

Separately, Evercore ISI boosted their price target on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd.

TORM Stock Down 1.6 %

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 $37.27 and a two-hundred day moving average of $36.02. The company has a market capitalization of $2.66 billion, a PE ratio of 4.13 and a beta of 0.24.

TORM (NASDAQ:TRMD) last released its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the firm posted $2.14 EPS. Sell-side analysts anticipate that TORM plc will post 7.1 earnings per share for the current fiscal year.

TORM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 22.09%. This is an increase from TORM’s previous quarterly dividend of $1.50. The ex-dividend date is Thursday, August 29th. TORM’s dividend payout ratio (DPR) is presently 66.29%.

Hedge Funds Weigh In On TORM

Several large investors have recently made changes to their positions in TRMD. National Bank of Canada FI bought a new stake in TORM during the 2nd quarter valued at approximately $26,000. Vanguard Personalized Indexing Management LLC raised its position in shares of TORM by 7.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock valued at $433,000 after buying an additional 811 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in shares of TORM in the fourth quarter worth $27,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in TORM by 12.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,338 shares of the company’s stock valued at $365,000 after acquiring an additional 1,030 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in TORM in the 2nd quarter worth $43,000. 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.