TORM (NASDAQ:TRMD) Stock Price Down 1.1% – Here’s Why

TORM plc (NASDAQ:TRMD) traded down 1.1% during mid-day trading on Friday . The company traded as low as $31.77 and last traded at $31.78. 163,614 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 711,594 shares. The stock had previously closed at $32.12.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Fearnley Fonds raised TORM to a “hold” rating in a research report on Friday, September 27th. Evercore ISI lifted their target price 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 1.5 %

The company’s 50 day moving average price is $35.23 and its 200 day moving average price is $36.00. 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 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. The firm had revenue of $437.70 million during the quarter, compared to the consensus estimate 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 firm earned $2.14 earnings per share. As a group, research analysts expect that TORM plc will post 7.1 EPS 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 22.76%. 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 67.44%.

Institutional Investors Weigh In On TORM

Several institutional investors have recently made changes to their positions in TRMD. Marshall Wace LLP increased its holdings in shares of TORM by 860.9% in the 2nd 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 in the last quarter. Acadian Asset Management LLC increased its holdings in 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 buying an additional 964,801 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of TORM by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after acquiring an additional 85,937 shares during the period. Renaissance Technologies LLC lifted its position in shares of TORM by 38.9% during the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock valued at $25,945,000 after acquiring an additional 187,300 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of TORM by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 355,151 shares of the company’s stock worth $13,769,000 after acquiring an additional 8,185 shares in the last quarter. 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.