TORM (NASDAQ:TRMD) Stock Price Down 2.6% – Time to Sell?

Shares of TORM plc (NASDAQ:TRMD) dropped 2.6% on Tuesday . The stock traded as low as $30.24 and last traded at $30.48. Approximately 442,751 shares changed hands during trading, a decline of 38% from the average daily volume of 714,814 shares. The stock had previously closed at $31.29.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Fearnley Fonds upgraded TORM to a “hold” rating in a research report 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 0.7 %

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 stock has a 50 day moving average price of $34.89 and a 200-day moving average price of $35.91.

TORM (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. The company had revenue of $437.70 million for the quarter, compared to analyst estimates of $325.38 million. TORM had a return on equity of 36.06% and a net margin of 43.81%. During the same quarter in the previous year, the company posted $2.14 earnings per share. Research analysts anticipate that TORM plc will post 7.12 EPS for the current fiscal year.

TORM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Thursday, August 29th were paid a dividend of $1.80 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $7.20 dividend on an annualized basis and a yield of 24.08%. This is a positive change from TORM’s previous quarterly dividend of $1.50. TORM’s payout ratio is 67.44%.

Hedge Funds Weigh In On TORM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI acquired a new position in shares of TORM in the 2nd quarter valued at $26,000. Fifth Third Bancorp purchased a new position in TORM during the second quarter worth about $43,000. Syquant Capital Sas acquired a new stake in shares of TORM during the second quarter valued at about $46,000. Headlands Technologies LLC acquired a new stake in shares of TORM during the first quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of TORM during the second quarter valued at about $78,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

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.