Torm (NASDAQ:TRMD) Shares Up 2.4% – What’s Next?

Shares of Torm Plc (NASDAQ:TRMD) traded up 2.4% during mid-day trading on Thursday . The stock traded as high as $30.29 and last traded at $30.19. 381,293 shares changed hands during trading, a decline of 40% from the average session volume of 630,681 shares. The stock had previously closed at $29.48.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a research note on Wednesday, July 15th. Pareto Securities downgraded shares of Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. Evercore reiterated an “outperform” rating and set a $37.00 price objective on shares of Torm in a report on Wednesday. Finally, Wall Street Zen cut shares of Torm from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Torm Trading Up 2.4%

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 8.88 and a beta of 0.10. The business has a fifty day moving average price of $29.17 and a 200 day moving average price of $27.97.

Torm (NASDAQ:TRMD) last issued its earnings results on Wednesday, May 13th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.15). The firm had revenue of $402.00 million during the quarter, compared to analyst estimates of $297.43 million. Torm had a net margin of 24.45% and a return on equity of 15.81%.

Torm Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 9.3%. Torm’s payout ratio is presently 60.00%.

Insider Transactions at Torm

In related news, CEO Jacob Balslev Meldgaard sold 170,133 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $32.30, for a total value of $5,495,295.90. Following the transaction, the chief executive officer owned 348,411 shares in the company, valued at approximately $11,253,675.30. This trade represents a 32.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Torm

Several institutional investors have recently bought and sold shares of TRMD. NewEdge Advisors LLC increased its stake in Torm by 2.6% during the 3rd quarter. NewEdge Advisors LLC now owns 18,109 shares of the company’s stock worth $373,000 after buying an additional 459 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Torm by 1.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 31,391 shares of the company’s stock valued at $615,000 after buying an additional 477 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Torm by 3.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 15,214 shares of the company’s stock valued at $431,000 after buying an additional 479 shares during the last quarter. Midwest Professional Planners LTD. grew its stake in shares of Torm by 0.5% during the first quarter. Midwest Professional Planners LTD. now owns 91,505 shares of the company’s stock valued at $2,553,000 after acquiring an additional 495 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Torm by 0.7% during the second quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock valued at $1,385,000 after acquiring an additional 611 shares in the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

About Torm

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.