TORM (NASDAQ:TRMD) Shares Down 1% – Here’s Why

TORM plc (NASDAQ:TRMD)’s share price fell 1% on Tuesday . The company traded as low as $29.44 and last traded at $29.49. 157,741 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 718,994 shares. The stock had previously closed at $29.80.

Analyst Ratings Changes

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

TORM Price Performance

The stock has a fifty day moving average of $34.46 and a two-hundred day moving average of $35.79. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 3.69 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.

TORM (NASDAQ:TRMD) last announced its quarterly earnings data 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. TORM had a return on equity of 36.06% and a net margin of 43.81%. The firm had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. During the same quarter in the prior year, the company posted $2.14 earnings per share. On average, equities research analysts anticipate that TORM plc will post 7.12 earnings per share for the current year.

TORM Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 24.67%. The ex-dividend date was Thursday, August 29th. This is a positive change from TORM’s previous quarterly dividend of $1.50. TORM’s dividend payout ratio is currently 66.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace LLP boosted its position in TORM by 860.9% during the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock worth $55,441,000 after acquiring an additional 1,281,176 shares during the last quarter. Acadian Asset Management LLC grew its position 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 period. Vanguard Group Inc. grew its position in shares of TORM by 7.9% in the first quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after purchasing an additional 85,937 shares during the period. Renaissance Technologies LLC increased its stake in 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. Finally, Bank of New York Mellon Corp lifted its position in TORM by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 355,151 shares of the company’s stock worth $13,769,000 after buying an additional 8,185 shares during the period. Institutional investors and hedge funds own 73.89% of the company’s stock.

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.