Torm (NASDAQ:TRMD) Hits New 52-Week High – What’s Next?

Shares of Torm Plc (NASDAQ:TRMD) hit a new 52-week high during trading on Wednesday . The stock traded as high as $36.51 and last traded at $36.6450, with a volume of 456294 shares changing hands. The stock had previously closed at $34.93.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TRMD shares. Weiss Ratings raised Torm from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Evercore reissued an “outperform” rating and set a $38.00 target price on shares of Torm in a research note on Wednesday, August 26th. Finally, Wall Street Zen downgraded Torm from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $38.00.

Torm Price Performance

The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 6.07 and a beta of 0.12. The stock’s fifty day moving average price is $31.03 and its two-hundred day moving average price is $29.96. The company has a current ratio of 2.27, a quick ratio of 1.97 and a debt-to-equity ratio of 0.33.

Torm (NASDAQ:TRMD) last issued its earnings results on Wednesday, August 26th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06). The firm had revenue of $662.80 million for the quarter, compared to analyst estimates of $499.01 million. Torm had a return on equity of 27.24% and a net margin of 35.51%.

Torm Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a dividend yield of 26.0%. The ex-dividend date is Thursday, September 10th. This is an increase from Torm’s previous quarterly dividend of $0.70. Torm’s dividend payout ratio (DPR) is currently 115.49%.

Institutional Investors Weigh In On Torm

Several institutional investors have recently added to or reduced their stakes in TRMD. Optiver Holding B.V. acquired a new position in Torm in the first quarter valued at approximately $67,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Torm during the 4th quarter worth approximately $121,000. Savant Capital LLC purchased a new stake in shares of Torm during the 4th quarter worth approximately $203,000. Bank of New York Mellon Corp acquired a new position in shares of Torm in the 1st quarter valued at $228,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Torm in the 1st quarter valued at $252,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

About Torm

TORM plc is an international product tanker company that transports refined oil products and other energy-related cargoes by sea. Its vessels carry products such as gasoline, jet fuel, diesel and other clean petroleum products between production, storage and consumption markets.

The company operates a fleet of product tankers across several size categories, including long-range, medium-range and Handysize vessels. TORM provides seaborne transportation services to oil companies, trading houses and other commercial customers, with operations serving major shipping routes and energy markets worldwide.

TORM traces its history to 1889 and is headquartered in Copenhagen, Denmark.