Torm (NASDAQ:TRMD) Hits New 1-Year High – What’s Next?

Torm Plc (NASDAQ:TRMD) shares reached a new 52-week high during trading on Monday . The company traded as high as $31.76 and last traded at $30.6580, with a volume of 542050 shares trading hands. The stock had previously closed at $30.13.

Wall Street Analysts Forecast Growth

TRMD has been the topic of several recent research reports. Fearnley Fonds raised Torm from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. Evercore restated an “outperform” rating and set a $34.00 target price on shares of Torm in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $34.00.

Torm Price Performance

The company has a current ratio of 1.33, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.90 billion, a PE ratio of 10.88 and a beta of -0.01. The firm has a 50 day moving average of $23.93 and a two-hundred day moving average of $22.34.

Torm (NASDAQ:TRMD) last released its earnings results on Thursday, February 26th. The company reported $0.87 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $236.21 million. Research analysts predict that Torm Plc will post 6.27 earnings per share for the current fiscal year.

Torm Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, March 12th. This represents a $2.80 dividend on an annualized basis and a yield of 9.1%. This is an increase from Torm’s previous quarterly dividend of $0.62. Torm’s dividend payout ratio (DPR) is 63.73%.

Institutional Investors Weigh In On Torm

Several institutional investors and hedge funds have recently made changes to their positions in TRMD. Quarry LP bought a new position in Torm in the 3rd quarter valued at approximately $35,000. Tower Research Capital LLC TRC purchased a new position in shares of Torm in the second quarter worth $46,000. Wexford Capital LP bought a new position in shares of Torm during the third quarter valued at $120,000. Hilton Head Capital Partners LLC bought a new position in shares of Torm during the fourth quarter valued at $121,000. Finally, Virtus Advisers LLC boosted its position in shares of Torm by 356.4% during the fourth quarter. Virtus Advisers LLC now owns 9,858 shares of the company’s stock valued at $193,000 after buying an additional 7,698 shares during the last quarter. Institutional investors own 73.89% of the company’s stock.

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.