TORM (NASDAQ:TRMD) Trading Up 1.3% – Still a Buy?

TORM plc (NASDAQ:TRMD) shares traded up 1.3% during mid-day trading on Thursday . The stock traded as high as $24.32 and last traded at $24.04. 563,135 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 769,686 shares. The stock had previously closed at $23.73.

Wall Street Analyst Weigh In

TRMD has been the subject of a number of research reports. Evercore ISI lifted their target price on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Jefferies Financial Group decreased their target price on shares of TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Fearnley Fonds upgraded shares of TORM to a “hold” rating in a research report on Friday, September 27th.

TORM Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The business’s 50 day simple moving average is $30.20 and its 200-day simple moving average is $34.64.

TORM (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. The business had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 34.45%. During the same period in the previous year, the business earned $2.14 earnings per share. On average, analysts predict that TORM plc will post 6.41 EPS for the current fiscal year.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be issued a $0.876 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a yield of 15.33%. TORM’s dividend payout ratio (DPR) is presently 68.05%.

Institutional Investors Weigh In On TORM

Several institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI acquired a new stake in TORM during the 2nd quarter valued at approximately $26,000. Assetmark Inc. raised its stake in TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock worth $41,000 after buying an additional 516 shares during the last quarter. Fifth Third Bancorp acquired a new position in TORM in the second quarter valued at $43,000. Syquant Capital Sas bought a new stake in TORM during the second quarter valued at $46,000. Finally, Headlands Technologies LLC acquired a new stake in TORM during the 1st quarter worth about $51,000. 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.