TORM (NASDAQ:TRMD) Trading Up 1.3% - Should You Buy?

Shares of TORM plc (NASDAQ:TRMD - Get Free Report) rose 1.3% during trading on Friday . The stock traded as high as $27.50 and last traded at $27.32. Approximately 358,636 shares changed hands during trading, a decline of 51% from the average daily volume of 729,505 shares. The stock had previously closed at $26.96.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TRMD. Fearnley Fonds upgraded shares of TORM to a "hold" rating in a report on Friday, September 27th. 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.

TORM Trading 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 stock has a market cap of $2.22 billion, a price-to-earnings ratio of 3.45 and a beta of 0.24. The company has a fifty day simple moving average of $33.89 and a 200-day simple moving average of $35.63.

TORM (NASDAQ:TRMD - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 36.06%. The business had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. During the same quarter in the previous year, the business earned $2.14 earnings per share. On average, research analysts forecast that TORM plc will post 7.12 earnings per share for the current fiscal year.

TORM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 29th were given a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 26.38%. The ex-dividend date of this dividend was Thursday, August 29th. This is a boost from TORM's previous quarterly dividend of $1.50. TORM's dividend payout ratio (DPR) is 66.29%.

Institutional Investors Weigh In On TORM

Several hedge funds have recently bought and sold shares of the business. National Bank of Canada FI acquired a new position in shares of TORM in the 2nd quarter valued at about $26,000. Fifth Third Bancorp purchased a new stake in TORM in the 2nd quarter worth approximately $43,000. Syquant Capital Sas purchased a new stake in TORM in the 2nd quarter worth approximately $46,000. Headlands Technologies LLC purchased a new position in shares of TORM during the 1st quarter valued at $51,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of TORM during the 2nd quarter valued at $78,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

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.