TORM (NASDAQ:TRMD) Trading Down 1.8% – Time to Sell?

Shares of TORM plc (NASDAQ:TRMDGet Free Report) traded down 1.8% during mid-day trading on Tuesday . The company traded as low as $23.34 and last traded at $23.37. 325,941 shares were traded during trading, a decline of 57% from the average session volume of 758,715 shares. The stock had previously closed at $23.80.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Fearnley Fonds raised TORM to a “hold” rating in a research note on Friday, September 27th. Evercore ISI boosted their price target on shares of TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd.

Get Our Latest Research Report on TRMD

TORM Stock Down 3.6 %

The company has a quick ratio of 2.94, a current ratio of 3.18 and a debt-to-equity ratio of 0.53. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 3.02 and a beta of 0.27. The business’s fifty day moving average is $31.02 and its two-hundred day moving average is $34.96.

TORM (NASDAQ:TRMDGet Free Report) last announced its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. TORM had a return on equity of 34.97% and a net margin of 43.81%. The business had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. During the same period in the previous year, the company posted $2.14 earnings per share. Equities analysts forecast that TORM plc will post 6.41 earnings per share for the current fiscal year.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be issued a $0.876 dividend. This represents a $3.50 annualized dividend and a yield of 15.27%. The ex-dividend date of this dividend is Thursday, November 21st. TORM’s dividend payout ratio (DPR) is presently 45.28%.

Institutional Trading of TORM

A number of institutional investors have recently bought and sold shares of TRMD. Assetmark Inc. raised its position in shares of TORM by 76.9% during the 3rd quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock worth $41,000 after acquiring an additional 516 shares in the last quarter. National Bank of Canada FI acquired a new stake in TORM during the second quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of TORM by 7.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock worth $433,000 after buying an additional 811 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TORM by 12.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,338 shares of the company’s stock valued at $365,000 after buying an additional 1,030 shares in the last quarter. Finally, Hibernia Wealth Partners LLC grew its position in shares of TORM by 5.5% in the 3rd quarter. Hibernia Wealth Partners LLC now owns 20,974 shares of the company’s stock valued at $717,000 after buying an additional 1,092 shares during the last quarter. 73.89% of the stock is owned by hedge funds and other institutional investors.

About TORM

(Get Free Report)

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.

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