TORM (NASDAQ:TRMD) Trading 1.2% Higher – What’s Next?

TORM plc (NASDAQ:TRMD) shares traded up 1.2% during mid-day trading on Monday . The company traded as high as $23.47 and last traded at $23.12. 416,370 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 776,143 shares. The stock had previously closed at $22.85.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Fearnley Fonds raised TORM to a “hold” rating in a research report on Friday, September 27th. Evercore ISI upped their price target on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group dropped their target price on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

TORM Stock Up 2.3 %

The company has a 50 day moving average price of $29.83 and a 200-day moving average price of $34.49. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51.

TORM Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be paid a $0.876 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.50 annualized dividend and a dividend yield of 14.62%. TORM’s payout ratio is 68.05%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TRMD. SG Americas Securities LLC bought a new position in TORM during the first quarter valued at about $115,000. Swiss National Bank lifted its holdings in shares of TORM by 18.4% during the first quarter. Swiss National Bank now owns 79,609 shares of the company’s stock valued at $2,700,000 after purchasing an additional 12,353 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of TORM by 7.9% during the first quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after purchasing an additional 85,937 shares during the last quarter. Aristides Capital LLC purchased a new stake in shares of TORM during the first quarter valued at $256,000. Finally, Virtu Financial LLC purchased a new stake in shares of TORM during the first quarter valued at $598,000. Institutional investors own 73.89% of the company’s stock.

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.