TORM (NASDAQ:TRMD) Shares Down 1.9% – Time to Sell?

TORM plc (NASDAQ:TRMD) fell 1.9% during mid-day trading on Thursday . The company traded as low as $26.93 and last traded at $27.00. 411,399 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 727,509 shares. The stock had previously closed at $27.53.

Analysts Set New Price Targets

TRMD has been the topic of a number of analyst reports. Evercore ISI lifted their target price on shares of TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Fearnley Fonds upgraded TORM to a “hold” rating in a research report on Friday, September 27th.

TORM Stock Up 1.2 %

The company has a current ratio of 3.18, a quick ratio of 2.94 and a debt-to-equity ratio of 0.53. The company has a 50 day simple moving average of $33.69 and a two-hundred day simple moving average of $35.58. The firm has a market capitalization of $2.22 billion, a P/E ratio of 3.45 and a beta of 0.24.

TORM (NASDAQ:TRMD) last posted its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, beating 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 analysts’ expectations of $325.38 million. During the same period last year, the company posted $2.14 earnings per share. On average, equities analysts predict that TORM plc will post 7.12 EPS for the current fiscal year.

TORM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were given a $1.80 dividend. 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 26.38%. The ex-dividend date was Thursday, August 29th. TORM’s payout ratio is currently 66.29%.

Hedge Funds Weigh In On TORM

Institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI purchased a new position in shares of TORM in the second quarter valued at $26,000. Fifth Third Bancorp bought a new position in TORM during the second quarter valued at $43,000. Syquant Capital Sas bought a new stake in shares of TORM in the 2nd quarter worth about $46,000. Headlands Technologies LLC purchased a new stake in shares of TORM during the 1st quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of TORM in the 2nd quarter valued at about $78,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

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.