TORM (NASDAQ:TRMD) Trading Up 2.6%

TORM plc (NASDAQ:TRMD)’s stock price shot up 2.6% during mid-day trading on Monday . The company traded as high as $35.16 and last traded at $34.93. 154,385 shares traded hands during trading, a decline of 77% from the average session volume of 684,421 shares. The stock had previously closed at $34.05.

Analyst Ratings Changes

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

TORM Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94. The company’s 50-day moving average is $36.82 and its two-hundred day moving average is $36.01.

TORM (NASDAQ:TRMD) last released its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. TORM had a return on equity of 36.06% and a net margin of 43.81%. The company had revenue of $437.70 million for the quarter, compared to analysts’ expectations of $325.38 million. During the same quarter in the previous year, the company posted $2.14 earnings per share. On average, research analysts expect that TORM plc will post 7.1 earnings per share for the current fiscal year.

TORM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 20.64%. The ex-dividend date was Thursday, August 29th. This is a positive change from TORM’s previous quarterly dividend of $1.50. TORM’s payout ratio is 66.41%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. National Bank of Canada FI bought a new position in TORM during the second quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new position in shares of TORM during the 4th quarter worth $27,000. Scarborough Advisors LLC bought a new stake in shares of TORM during the 4th quarter worth about $37,000. Fifth Third Bancorp acquired a new position in shares of TORM during the 2nd quarter valued at about $43,000. Finally, Syquant Capital Sas bought a new position in shares of TORM in the 2nd quarter valued at approximately $46,000. 73.89% of the stock is owned by institutional investors and hedge funds.

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.