TORM (NASDAQ:TRMD) Trading Down 1.3% – Should You Sell?

Shares of TORM plc (NASDAQ:TRMD) dropped 1.3% during trading on Tuesday . The stock traded as low as $24.93 and last traded at $25.15. Approximately 396,116 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 741,396 shares. The stock had previously closed at $25.49.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. 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 company an “outperform” rating in a research note on Tuesday, July 23rd.

TORM Price Performance

The stock has a 50-day moving average of $32.25 and a 200 day moving average of $35.27. 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 released its earnings results on Thursday, August 15th. The company reported $2.02 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 analysts’ expectations of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same period in the previous year, the business posted $2.14 EPS. On average, equities research analysts predict that TORM plc will post 7.12 EPS for the current year.

TORM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were given a dividend of $1.80 per share. This is an increase from TORM’s previous quarterly dividend of $1.50. This represents a $7.20 dividend on an annualized basis and a dividend yield of 29.03%. The ex-dividend date was Thursday, August 29th. TORM’s dividend payout ratio is currently 67.44%.

Institutional Trading of TORM

Institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP grew its stake in TORM by 860.9% in the 2nd 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 in the last quarter. Acadian Asset Management LLC increased its stake in TORM by 320.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock worth $49,189,000 after purchasing an additional 964,801 shares during the period. Hsbc Holdings PLC bought a new stake in TORM in the second quarter valued at approximately $9,619,000. International Assets Investment Management LLC bought a new position in shares of TORM in the third quarter worth approximately $7,359,000. Finally, Renaissance Technologies LLC raised its holdings in TORM by 38.9% during the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock valued at $25,945,000 after buying an additional 187,300 shares during the last quarter. Hedge funds and other institutional investors 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.