Torm Plc (NASDAQ:TRMD) Sees Large Drop in Short Interest

Torm Plc (NASDAQ:TRMD) was the recipient of a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 320,369 shares, a drop of 47.1% from the January 29th total of 605,893 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 417,013 shares, the short-interest ratio is currently 0.8 days. Based on an average daily trading volume, of 417,013 shares, the short-interest ratio is currently 0.8 days. Currently, 0.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TRMD. Evercore reiterated an “outperform” rating and issued a $34.00 price target on shares of Torm in a report on Thursday. Fearnley Fonds raised shares of Torm from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Torm has an average rating of “Hold” and an average price target of $34.00.

Institutional Investors Weigh In On Torm

Several hedge funds have recently bought and sold shares of TRMD. Norges Bank acquired a new stake in shares of Torm in the second quarter valued at approximately $20,998,000. Brevan Howard Capital Management LP bought a new stake in Torm in the 2nd quarter valued at $7,523,000. Lind Value II ApS acquired a new stake in Torm during the 2nd quarter valued at $7,283,000. Marnell Management LLC bought a new position in Torm during the fourth quarter worth $4,815,000. Finally, Barclays PLC boosted its position in Torm by 613.2% during the third quarter. Barclays PLC now owns 206,508 shares of the company’s stock worth $4,258,000 after purchasing an additional 177,551 shares during the period. 73.89% of the stock is currently owned by institutional investors and hedge funds.

Torm Stock Up 3.3%

Shares of TRMD stock opened at $30.13 on Monday. The firm’s fifty day moving average price is $23.48 and its two-hundred day moving average price is $22.19. Torm has a 1 year low of $13.60 and a 1 year high of $30.27. The company has a current ratio of 1.33, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.83 billion, a P/E ratio of 10.61 and a beta of -0.01.

Torm (NASDAQ:TRMD) last released its earnings results on Thursday, February 26th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $347.60 million for the quarter, compared to the consensus estimate of $236.21 million. Torm had a return on equity of 13.26% and a net margin of 21.29%. On average, equities analysts predict that Torm will post 6.27 EPS for the current fiscal year.

Torm Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, March 12th. This represents a $2.80 annualized dividend and a dividend yield of 9.3%. This is a boost from Torm’s previous quarterly dividend of $0.62. Torm’s dividend payout ratio (DPR) is presently 63.73%.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.