TORM (NASDAQ:TRMD) Stock Price Up 1.6%

TORM plc (NASDAQ:TRMDGet Free Report) traded up 1.6% during mid-day trading on Wednesday . The company traded as high as $34.49 and last traded at $34.43. 286,276 shares changed hands during trading, a decline of 58% from the average session volume of 684,847 shares. The stock had previously closed at $33.89.

Analyst Ratings Changes

Separately, Evercore ISI upped their price objective on shares of TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd.

View Our Latest Stock Report on TRMD

TORM Stock Performance

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 business has a 50 day moving average price of $37.69 and a 200 day moving average price of $36.03.

TORM (NASDAQ:TRMDGet Free Report) last posted 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 for 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 in the prior year, the company posted $2.14 earnings per share. As a group, equities analysts anticipate that TORM plc will post 7.1 earnings per share for the current year.

TORM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th will be issued a dividend of $1.80 per share. This is an increase from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a dividend yield of 21.08%. The ex-dividend date is Thursday, August 29th. TORM’s dividend payout ratio is presently 66.41%.

Institutional Investors Weigh In On TORM

Large investors have recently bought and sold shares of the business. Marshall Wace LLP raised its stake in TORM by 860.9% during the 2nd quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock valued at $55,441,000 after buying an additional 1,281,176 shares during the last quarter. Acadian Asset Management LLC increased its position in TORM by 320.5% during the second quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock valued at $49,189,000 after acquiring an additional 964,801 shares during the last quarter. Norges Bank bought a new position in TORM in the fourth quarter valued at about $22,306,000. Hsbc Holdings PLC purchased a new position in TORM in the second quarter worth about $9,619,000. Finally, Renaissance Technologies LLC boosted its position in TORM by 38.9% in the second quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock worth $25,945,000 after purchasing an additional 187,300 shares during the last quarter. 73.89% of the stock is currently owned by institutional investors.

TORM Company Profile

(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.

Further Reading

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