Torm Plc (NASDAQ:TRMD) Short Interest Up 174.3% in March

Torm Plc (NASDAQ:TRMD) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 1,300,264 shares, an increase of 174.3% from the February 26th total of 474,084 shares. Based on an average daily trading volume, of 1,481,332 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.4% of the shares of the stock are sold short. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,481,332 shares, the days-to-cover ratio is currently 0.9 days.

Hedge Funds Weigh In On Torm

Large investors have recently modified their holdings of the company. Quarry LP bought a new stake in Torm in the 3rd quarter worth approximately $35,000. Tower Research Capital LLC TRC bought a new position in Torm during the second quarter valued at approximately $46,000. Wexford Capital LP bought a new position in Torm during the third quarter valued at approximately $120,000. Hilton Head Capital Partners LLC purchased a new position in shares of Torm during the fourth quarter worth approximately $121,000. Finally, Invesco Ltd. purchased a new position in shares of Torm during the second quarter worth approximately $190,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

Torm Stock Performance

NASDAQ TRMD opened at $28.13 on Wednesday. Torm has a 52-week low of $13.60 and a 52-week high of $31.76. The company has a fifty day moving average of $25.80 and a 200-day moving average of $22.92. The company has a market capitalization of $2.64 billion, a P/E ratio of 9.90 and a beta of -0.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 1.33.

Torm (NASDAQ:TRMD) last released its earnings results on Thursday, February 26th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. Torm had a return on equity of 13.26% and a net margin of 21.29%.The business had revenue of $347.60 million for the quarter, compared to analysts’ expectations of $236.21 million. As a group, equities research analysts predict that Torm will post 6.27 EPS for the current fiscal year.

Torm Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Thursday, March 12th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date is Thursday, March 12th. This is an increase from Torm’s previous quarterly dividend of $0.62. Torm’s dividend payout ratio (DPR) is currently 71.83%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen raised Torm from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Evercore reissued an “outperform” rating and set a $34.00 price objective on shares of Torm in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Torm currently has a consensus rating of “Hold” and an average target price of $34.00.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.