TORM (NASDAQ:TRMD) Trading Down 1.4% – Should You Sell?

Shares of TORM plc (NASDAQ:TRMD) traded down 1.4% during mid-day trading on Monday . The company traded as low as $30.84 and last traded at $31.20. 398,139 shares were traded during mid-day trading, a decline of 44% from the average session volume of 712,998 shares. The stock had previously closed at $31.64.

Analyst Ratings Changes

A number of analysts have 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 increased their price objective on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd.

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 firm has a market cap of $2.45 billion, a P/E ratio of 3.81 and a beta of 0.24. The business has a fifty day simple moving average of $35.01 and a 200-day simple moving average of $35.95.

TORM (NASDAQ:TRMD) last issued its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $325.38 million. During the same period last year, the business earned $2.14 EPS. On average, sell-side analysts predict that TORM plc will post 7.1 EPS for the current fiscal year.

TORM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 23.91%. The ex-dividend date was Thursday, August 29th. This is an increase from TORM’s previous quarterly dividend of $1.50. TORM’s dividend payout ratio is currently 66.29%.

Institutional Trading of TORM

Institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI bought a new position in TORM during the 2nd quarter valued at about $26,000. Creekmur Asset Management LLC bought a new position in TORM during the fourth quarter valued at approximately $27,000. Fifth Third Bancorp purchased a new stake in TORM in the second quarter worth approximately $43,000. Syquant Capital Sas bought a new stake in TORM in the 2nd quarter worth approximately $46,000. Finally, Headlands Technologies LLC purchased a new stake in TORM during the 1st quarter valued at $51,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

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.