TORM (NASDAQ:TRMD) Trading Up 1.3% – Should You Buy?

TORM plc (NASDAQ:TRMD)’s stock price was up 1.3% on Thursday . The company traded as high as $24.32 and last traded at $24.04. Approximately 563,135 shares traded hands during trading, a decline of 27% from the average daily volume of 769,686 shares. The stock had previously closed at $23.73.

Wall Street Analyst Weigh In

TRMD has been the subject of a number of recent research reports. Jefferies Financial Group cut their price objective on TORM from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday. Fearnley Fonds raised TORM to a “hold” rating in a report on Friday, September 27th. Finally, Evercore ISI lifted their price target on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd.

TORM Stock Down 0.5 %

The stock’s 50 day moving average price is $30.60 and its two-hundred day moving average price is $34.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24.

TORM (NASDAQ:TRMD) last announced its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 34.45%. The business had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. During the same quarter in the previous year, the firm posted $2.14 earnings per share. As a group, analysts anticipate that TORM plc will post 6.41 EPS for the current year.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be paid a $0.876 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 14.85%. The ex-dividend date is Thursday, November 21st. TORM’s dividend payout ratio is 68.05%.

Hedge Funds Weigh In On TORM

Hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI bought a new stake in TORM during the 2nd quarter worth approximately $26,000. Assetmark Inc. increased its stake in shares of TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after buying an additional 516 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of TORM in the second quarter valued at about $43,000. Syquant Capital Sas acquired a new position in TORM during the 2nd quarter worth about $46,000. Finally, Headlands Technologies LLC bought a new stake in TORM during the 1st quarter worth about $51,000. Institutional investors own 73.89% of the company’s stock.

About TORM

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.