TORM (NASDAQ:TRMD) Shares Down 4.9% - What's Next?

Shares of TORM plc (NASDAQ:TRMD - Get Free Report) dropped 4.9% during mid-day trading on Wednesday . The company traded as low as $27.52 and last traded at $27.72. Approximately 913,220 shares changed hands during trading, an increase of 27% from the average daily volume of 721,288 shares. The stock had previously closed at $29.15.

Wall Street Analyst Weigh In

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

TORM Trading Down 5.6 %

The business's 50-day simple moving average is $34.11 and its 200-day simple moving average is $35.69. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 3.48 and a beta of 0.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.18 and a quick ratio of 2.94.

TORM (NASDAQ:TRMD - Get Free Report) last posted its 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. The firm had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same quarter in the prior year, the company earned $2.14 EPS. Research analysts predict that TORM plc will post 7.12 earnings per share 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 paid a $1.80 dividend. This is an increase from TORM's previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $7.20 annualized dividend and a yield of 26.15%. TORM's payout ratio is presently 66.29%.

Hedge Funds Weigh In On TORM

Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in TORM by 597.3% in the 2nd quarter. SG Americas Securities LLC now owns 22,914 shares of the company's stock valued at $888,000 after acquiring an additional 19,628 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of TORM in the first quarter valued at $1,229,000. Lighthouse Investment Partners LLC increased its stake in TORM by 276.2% in the second quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company's stock valued at $4,267,000 after purchasing an additional 80,793 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in TORM in the 2nd quarter worth about $9,619,000. Finally, Sei Investments Co. grew its holdings in TORM by 250.0% in the 2nd quarter. Sei Investments Co. now owns 43,492 shares of the company's stock valued at $1,686,000 after buying an additional 31,066 shares during the period. 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.