TORM (NASDAQ:TRMD) Trading Down 0.6%

TORM plc (NASDAQ:TRMD) shares fell 0.6% during mid-day trading on Monday . The stock traded as low as $32.74 and last traded at $32.85. 221,274 shares changed hands during trading, a decline of 68% from the average session volume of 685,804 shares. The stock had previously closed at $33.04.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI raised their price target 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 Up 0.6 %

The firm has a market capitalization of $2.71 billion, a P/E ratio of 4.16 and a beta of 0.24. The firm’s 50 day moving average is $37.37 and its two-hundred day moving average is $36.02. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94.

TORM (NASDAQ:TRMD) last announced its quarterly earnings results 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 analysts’ expectations 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 company posted $2.14 earnings per share. Research analysts predict that TORM plc will post 7.1 EPS for the current year.

TORM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 21.66%. The ex-dividend date is Thursday, August 29th. This is an increase from TORM’s previous quarterly dividend of $1.50. TORM’s payout ratio is 66.29%.

Institutional Investors Weigh In On TORM

A number of large investors have recently added to or reduced their stakes in the business. National Bank of Canada FI bought a new position in TORM during the second quarter worth $26,000. Creekmur Asset Management LLC bought a new stake in shares of TORM during the 4th quarter worth about $27,000. Scarborough Advisors LLC acquired a new position in TORM in the 4th quarter valued at about $37,000. Fifth Third Bancorp bought a new position in TORM in the 2nd quarter valued at about $43,000. Finally, Syquant Capital Sas acquired a new stake in TORM during the second quarter worth approximately $46,000. 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.