Torm (NASDAQ:TRMD) Trading 2.4% Higher – What’s Next?

Torm Plc (NASDAQ:TRMD) shares traded up 2.4% during trading on Thursday . The company traded as high as $30.29 and last traded at $30.19. Approximately 381,293 shares were traded during mid-day trading, a decline of 40% from the average session volume of 630,681 shares. The stock had previously closed at $29.48.

Analyst Ratings Changes

Several equities research analysts have issued reports on TRMD shares. Evercore restated an “outperform” rating and set a $37.00 price objective on shares of Torm in a report on Wednesday. Pareto Securities cut Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Torm in a research report on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of Torm from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Torm currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Torm Trading Up 2.4%

The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 8.88 and a beta of 0.10. The business’s 50 day moving average price is $29.17 and its 200-day moving average price is $27.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40.

Torm (NASDAQ:TRMD) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.15). The firm had revenue of $402.00 million during the quarter, compared to analyst estimates of $297.43 million. Torm had a return on equity of 15.81% and a net margin of 24.45%.

Torm Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were given a $0.70 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.80 annualized dividend and a dividend yield of 9.3%. Torm’s dividend payout ratio (DPR) is presently 60.00%.

Insider Buying and Selling at Torm

In other news, CEO Jacob Balslev Meldgaard sold 170,133 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $32.30, for a total value of $5,495,295.90. Following the completion of the sale, the chief executive officer directly owned 348,411 shares in the company, valued at approximately $11,253,675.30. The trade was a 32.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Torm

Several institutional investors and hedge funds have recently made changes to their positions in TRMD. Arrowstreet Capital Limited Partnership boosted its holdings in Torm by 0.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,064,258 shares of the company’s stock worth $86,032,000 after purchasing an additional 21,280 shares during the period. Vanguard Group Inc. lifted its position in shares of Torm by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,341,185 shares of the company’s stock worth $46,629,000 after buying an additional 11,457 shares during the last quarter. Norges Bank bought a new position in shares of Torm in the 4th quarter worth about $24,830,000. Renaissance Technologies LLC boosted its holdings in shares of Torm by 25.8% in the 4th quarter. Renaissance Technologies LLC now owns 536,425 shares of the company’s stock valued at $10,503,000 after buying an additional 110,000 shares during the period. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Torm in the 2nd quarter valued at about $7,523,000. 73.89% of the stock is owned by institutional investors and hedge funds.

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.