TORM (NASDAQ:TRMD) Trading Down 5% – Here’s What Happened

TORM plc (NASDAQ:TRMD)’s share price dropped 5% during mid-day trading on Tuesday . The company traded as low as $19.35 and last traded at $19.38. Approximately 1,009,063 shares traded hands during trading, a decline of 33% from the average daily volume of 1,499,925 shares. The stock had previously closed at $20.39.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Jefferies Financial Group reduced their price target on shares of TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Fearnley Fonds raised TORM to a “hold” rating in a report on Friday, September 27th.

TORM Trading Up 0.2 %

The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.85 billion, a P/E ratio of 2.54 and a beta of 0.23. The business’s fifty day simple moving average is $20.54 and its 200 day simple moving average is $29.12.

TORM (NASDAQ:TRMD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.06. TORM had a net margin of 43.81% and a return on equity of 34.45%. The business had revenue of $372.10 million during the quarter, compared to analyst estimates of $273.89 million. During the same quarter last year, the business posted $1.36 earnings per share. As a group, analysts expect that TORM plc will post 6.37 EPS for the current year.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a dividend yield of 17.82%. The ex-dividend date was Thursday, November 21st. TORM’s dividend payout ratio (DPR) is presently 45.28%.

Institutional Trading of TORM

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new stake in shares of TORM during the 2nd quarter worth approximately $1,658,000. Vanguard Personalized Indexing Management LLC boosted its holdings in TORM by 7.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock worth $433,000 after buying an additional 811 shares during the last quarter. XTX Topco Ltd raised its position in shares of TORM by 24.6% in the 2nd quarter. XTX Topco Ltd now owns 10,926 shares of the company’s stock valued at $424,000 after acquiring an additional 2,159 shares during the period. Sei Investments Co. boosted its stake in TORM by 250.0% during the 2nd quarter. Sei Investments Co. now owns 43,492 shares of the company’s stock worth $1,686,000 after acquiring an additional 31,066 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in TORM by 860.9% during the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock valued at $55,441,000 after purchasing an additional 1,281,176 shares during the period. 73.89% of the stock is owned by 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.