TORM (NASDAQ:TRMD) Stock Price Down 1.1% - Here's Why

TORM plc (NASDAQ:TRMD - Get Free Report) shares fell 1.1% during mid-day trading on Monday . The stock traded as low as $25.22 and last traded at $25.46. 403,416 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 740,080 shares. The stock had previously closed at $25.75.

Analysts Set New Price Targets

TRMD has been the topic of a number of research analyst reports. Fearnley Fonds upgraded shares of TORM to a "hold" rating in a research note on Friday, September 27th. Evercore ISI lifted their price target on 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 1.0 %

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 fifty day simple moving average is $32.25 and its 200 day simple moving average is $35.27. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 3.27 and a beta of 0.27.

TORM (NASDAQ:TRMD - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. TORM had a net margin of 43.81% and a return on equity of 36.06%. During the same quarter in the prior year, the business earned $2.14 earnings per share. On average, research analysts predict that TORM plc will post 7.12 EPS for the current year.

TORM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Thursday, August 29th were paid a dividend of $1.80 per share. 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 yield of 28.25%. The ex-dividend date was Thursday, August 29th. TORM's dividend payout ratio is presently 67.31%.

Institutional Investors Weigh In On TORM

A number of hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its position in TORM by 860.9% in the 2nd quarter. Marshall Wace LLP now owns 1,429,989 shares of the company's stock valued at $55,441,000 after purchasing an additional 1,281,176 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of TORM by 320.5% during the second quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company's stock worth $49,189,000 after buying an additional 964,801 shares during the period. Vanguard Group Inc. grew its holdings in TORM by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company's stock worth $41,221,000 after buying an additional 85,937 shares in the last quarter. Renaissance Technologies LLC increased its position in TORM by 38.9% in the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company's stock valued at $25,945,000 after acquiring an additional 187,300 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in TORM by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 355,151 shares of the company's stock valued at $13,769,000 after acquiring an additional 8,185 shares in the last quarter. 73.89% of the stock is currently owned by institutional investors.

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.