TORM (NASDAQ:TRMD) Shares Down 0.7% – Time to Sell?

TORM plc (NASDAQ:TRMD)’s stock price was down 0.7% on Friday . The company traded as low as $32.76 and last traded at $32.99. Approximately 311,980 shares changed hands during trading, a decline of 56% from the average daily volume of 711,456 shares. The stock had previously closed at $33.22.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TRMD shares. Fearnley Fonds upgraded shares of TORM to a “hold” rating in a report on Friday, September 27th. Evercore ISI boosted their price objective on TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd.

TORM Price Performance

The company’s 50-day moving average price is $35.79 and its 200-day moving average price is $36.06. 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 firm has a market cap of $2.68 billion, a price-to-earnings ratio of 4.16 and a beta of 0.24.

TORM (NASDAQ:TRMD) last released 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. The company had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 36.06%. During the same period in the prior year, the business earned $2.14 EPS. On average, equities research analysts forecast that TORM plc will post 7.1 EPS for the current year.

TORM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were issued a $1.80 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This is a positive change from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a yield of 21.87%. TORM’s dividend payout ratio (DPR) is 66.29%.

Institutional Investors Weigh In On TORM

Large investors have recently bought and sold shares of the stock. Marshall Wace LLP increased its stake in shares of TORM by 860.9% during the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock worth $55,441,000 after buying an additional 1,281,176 shares during the period. Acadian Asset Management LLC grew its holdings in TORM by 320.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock worth $49,189,000 after acquiring an additional 964,801 shares in the last quarter. Hsbc Holdings PLC acquired a new position in TORM during the 2nd quarter worth approximately $9,619,000. Renaissance Technologies LLC increased its position in shares of TORM by 38.9% in the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock valued at $25,945,000 after purchasing an additional 187,300 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of TORM by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after purchasing an additional 85,937 shares in the last quarter. Hedge funds and other institutional investors own 73.89% of the company’s stock.

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.