TORM (NASDAQ:TRMD) Trading Down 0.9% – Time to Sell?

TORM plc (NASDAQ:TRMD)’s share price was down 0.9% during mid-day trading on Wednesday . The stock traded as low as $25.47 and last traded at $26.06. Approximately 499,491 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 736,640 shares. The stock had previously closed at $26.30.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TRMD shares. Fearnley Fonds upgraded shares of TORM to a “hold” rating in a research report on Friday, September 27th. Evercore ISI boosted 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 Performance

The firm has a fifty day moving average price of $32.76 and a 200-day moving average price of $35.33. The company has a current ratio of 3.18, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53.

TORM (NASDAQ:TRMD) last posted its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 36.06%. The company had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. During the same quarter in the prior year, the company posted $2.14 EPS. As a group, equities research analysts predict that TORM plc will post 7.12 EPS for the current fiscal year.

TORM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were paid a dividend of $1.80 per share. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 annualized dividend and a dividend yield of 27.81%. TORM’s payout ratio is currently 67.44%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI purchased a new position in TORM in the second quarter valued at approximately $26,000. Fifth Third Bancorp acquired a new position in shares of TORM in the 2nd quarter valued at about $43,000. Syquant Capital Sas acquired a new stake in TORM in the second quarter worth $46,000. Headlands Technologies LLC bought a new stake in TORM in the first quarter valued at $51,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of TORM during the second quarter valued at $78,000. Institutional investors and hedge funds 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.