TORM (NASDAQ:TRMD) Trading Down 2.6% – Should You Sell?

Shares of TORM plc (NASDAQ:TRMD) traded down 2.6% during mid-day trading on Tuesday . The stock traded as low as $30.24 and last traded at $30.48. 442,751 shares were traded during mid-day trading, a decline of 38% from the average session volume of 714,814 shares. The stock had previously closed at $31.29.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TRMD. Evercore ISI increased their price objective on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Fearnley Fonds raised shares of TORM to a “hold” rating in a research note on Friday, September 27th.

TORM Stock Down 4.0 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.94 and a current ratio of 3.18. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 3.82 and a beta of 0.24. The firm has a fifty day moving average price of $35.14 and a 200 day moving average price of $35.98.

TORM (NASDAQ:TRMD) last posted its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. The business had revenue of $437.70 million for the quarter, compared to analysts’ expectations 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 company posted $2.14 EPS. As a group, sell-side analysts expect that TORM plc will post 7.1 EPS for the current fiscal year.

TORM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were paid a $1.80 dividend. This is an increase from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 annualized dividend and a yield of 23.96%. The ex-dividend date was Thursday, August 29th. TORM’s dividend payout ratio (DPR) is presently 66.29%.

Institutional Trading of TORM

Several large investors have recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new stake in TORM in the 4th quarter valued at about $27,000. PNC Financial Services Group Inc. raised its position in shares of TORM by 65.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,420 shares of the company’s stock worth $286,000 after purchasing an additional 3,720 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in TORM in the 1st quarter valued at approximately $1,229,000. Quantbot Technologies LP acquired a new stake in TORM during the 1st quarter valued at $2,836,000. Finally, SG Americas Securities LLC purchased a new position in TORM during the first quarter worth $115,000. 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.