Torm Plc (TRMD) To Go Ex-Dividend on November 20th

Torm Plc (NASDAQ:TRMD) announced a quarterly dividend on Thursday, November 6th. Stockholders of record on Thursday, November 20th will be paid a dividend of 0.62 per share on Wednesday, December 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date of this dividend is Thursday, November 20th. This is a 55.0% increase from Torm’s previous quarterly dividend of $0.40.

Torm has a dividend payout ratio of 44.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Torm to earn $3.58 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 32.4%.

Torm Trading Up 2.1%

Shares of NASDAQ:TRMD opened at $22.78 on Friday. Torm has a 52-week low of $13.60 and a 52-week high of $24.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.30 and a current ratio of 2.57. The company has a market capitalization of $2.14 billion, a P/E ratio of 8.38 and a beta of 0.06. The company has a 50-day simple moving average of $21.63 and a 200 day simple moving average of $19.27.

Torm (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.17. Torm had a return on equity of 13.10% and a net margin of 21.37%.The firm had revenue of $342.60 million for the quarter, compared to analyst estimates of $258.49 million. Sell-side analysts forecast that Torm will post 6.27 earnings per share for the current year.

Hedge Funds Weigh In On Torm

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRMD. Norges Bank bought a new stake in shares of Torm during the 2nd quarter valued at $20,998,000. Brevan Howard Capital Management LP acquired a new position in Torm in the second quarter valued at about $7,523,000. Lind Value II ApS bought a new stake in Torm during the second quarter worth about $7,283,000. Vanguard Group Inc. lifted its position in Torm by 5.9% during the first quarter. Vanguard Group Inc. now owns 1,996,234 shares of the company’s stock worth $32,688,000 after purchasing an additional 111,194 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Torm during the first quarter worth about $1,536,000. 73.89% of the stock is owned by institutional investors and hedge funds.

About Torm

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.