TORM (NASDAQ:TRMD) Stock Price Down 4.9% – Here’s What Happened

TORM plc (NASDAQ:TRMD) traded down 4.9% during mid-day trading on Wednesday . The stock traded as low as $27.52 and last traded at $27.72. 913,220 shares traded hands during trading, an increase of 27% from the average session volume of 721,288 shares. The stock had previously closed at $29.15.

Analyst Ratings Changes

TRMD has been the topic of a number of research reports. Fearnley Fonds upgraded shares of TORM to a “hold” rating in a research report on Friday, September 27th. Evercore ISI upped their target price on shares of TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd.

TORM Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.94 and a current ratio of 3.18. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 3.45 and a beta of 0.24. The business’s 50-day simple moving average is $33.89 and its 200-day simple moving average is $35.63.

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 company had revenue of $437.70 million during the quarter, compared to analysts’ expectations of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same period in the prior year, the business posted $2.14 EPS. On average, research analysts expect that TORM plc will post 7.12 earnings per share for the current fiscal year.

TORM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were paid a $1.80 dividend. The ex-dividend date was Thursday, August 29th. This is a boost from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a dividend yield of 26.30%. TORM’s dividend payout ratio is 66.29%.

Institutional Trading of TORM

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hibernia Wealth Partners LLC increased its stake 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 acquiring an additional 1,092 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of TORM by 1,166.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock valued at $1,289,000 after acquiring an additional 35,000 shares during the last quarter. PSI Advisors LLC increased its stake in TORM by 80.1% during the 3rd quarter. PSI Advisors LLC now owns 17,665 shares of the company’s stock worth $604,000 after purchasing an additional 7,855 shares in the last quarter. International Assets Investment Management LLC bought a new stake in TORM during the 3rd quarter worth approximately $7,359,000. Finally, U S Global Investors Inc. increased its stake in TORM by 39.5% during the 3rd quarter. U S Global Investors Inc. now owns 9,995 shares of the company’s stock worth $342,000 after purchasing an additional 2,829 shares in the last quarter. 73.89% of the stock is owned by institutional investors.

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.