Torm Plc (NASDAQ:TRMD) Short Interest Update

Torm Plc (NASDAQ:TRMD) saw a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 655,620 shares, a decline of 38.5% from the June 30th total of 1,065,543 shares. Based on an average daily volume of 573,255 shares, the short-interest ratio is presently 1.1 days. Currently, 0.6% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

TRMD has been the topic of a number of recent analyst reports. Evercore restated an “outperform” rating and issued a $37.00 price target on shares of Torm in a report on Wednesday, July 22nd. Pareto Securities cut shares of Torm from a “hold” rating to a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a report on Wednesday, July 15th. Finally, Wall Street Zen lowered shares of Torm from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Torm Trading Up 1.4%

Shares of Torm stock opened at $30.24 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.40 and a quick ratio of 1.20. The firm has a fifty day moving average price of $28.94 and a 200 day moving average price of $28.27. Torm has a 1 year low of $18.00 and a 1 year high of $35.33. The stock has a market cap of $3.09 billion, a PE ratio of 8.89 and a beta of 0.10.

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

Torm Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 9.3%. The ex-dividend date was Thursday, May 28th. Torm’s dividend payout ratio (DPR) is currently 60.00%.

Insider Transactions at Torm

In other Torm news, CEO Jacob Balslev Meldgaard sold 379,014 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $31.94, for a total value of $12,105,707.16. Following the completion of the transaction, the chief executive officer directly owned 348,411 shares in the company, valued at approximately $11,128,247.34. The trade was a 52.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Torm by 1,346.6% during the 1st quarter. Royal Bank of Canada now owns 87,285 shares of the company’s stock worth $1,438,000 after purchasing an additional 81,251 shares during the period. NewEdge Advisors LLC boosted its holdings in Torm by 39.9% during the first quarter. NewEdge Advisors LLC now owns 16,740 shares of the company’s stock worth $276,000 after buying an additional 4,776 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Torm by 0.7% during the second quarter. Geode Capital Management LLC now owns 83,133 shares of the company’s stock worth $1,385,000 after buying an additional 611 shares in the last quarter. Cetera Investment Advisers grew its position in Torm by 22.4% during the second quarter. Cetera Investment Advisers now owns 17,610 shares of the company’s stock valued at $293,000 after buying an additional 3,221 shares during the period. Finally, Invesco Ltd. acquired a new stake in Torm during the second quarter valued at $190,000. 73.89% of the stock is owned by institutional investors and hedge funds.

Torm Company Profile

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.