TORM (NASDAQ:TRMD) Shares Down 1% - Should You Sell?

TORM plc (NASDAQ:TRMD - Get Free Report)'s share price traded down 1% during mid-day trading on Tuesday . The company traded as low as $29.44 and last traded at $29.49. 157,741 shares were traded during trading, a decline of 78% from the average session volume of 718,994 shares. The stock had previously closed at $29.80.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Fearnley Fonds upgraded shares of TORM to a "hold" rating in a research note on Friday, September 27th. Evercore ISI boosted their price target on shares of TORM from $45.00 to $48.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 23rd.

TORM Trading Down 2.2 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94. The business's 50 day moving average price is $34.30 and its 200-day moving average price is $35.75. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 3.68 and a beta of 0.24.

TORM (NASDAQ:TRMD - Get Free Report) last issued its earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $325.38 million. During the same period in the prior year, the business posted $2.14 earnings per share. Equities analysts forecast that TORM plc will post 7.12 EPS for the current fiscal year.

TORM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were given a dividend of $1.80 per share. This is a positive change from TORM's previous quarterly dividend of $1.50. This represents a $7.20 annualized dividend and a yield of 24.70%. The ex-dividend date was Thursday, August 29th. TORM's dividend payout ratio is presently 66.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI acquired a new position in TORM during the second quarter worth about $26,000. Vanguard Personalized Indexing Management LLC grew its position in shares of TORM by 7.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company's stock valued at $433,000 after purchasing an additional 811 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of TORM by 12.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,338 shares of the company's stock valued at $365,000 after purchasing an additional 1,030 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of TORM in the second quarter valued at approximately $43,000. Finally, Syquant Capital Sas acquired a new stake in shares of TORM in the second quarter valued at approximately $46,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.

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.