Shares of TORM plc (NASDAQ:TRMD - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 792,500 shares were traded during mid-day trading, an increase of 24% from the previous session's volume of 637,181 shares.The stock last traded at $36.07 and had previously closed at $34.93.
TORM Price Performance
The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.37 and a current ratio of 2.60. The company has a 50-day moving average price of $34.20 and a 200-day moving average price of $32.67. The firm has a market capitalization of $2.92 billion, a P/E ratio of 4.80 and a beta of 0.16.
TORM (NASDAQ:TRMD - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The company reported $1.56 EPS for the quarter. TORM had a net margin of 42.64% and a return on equity of 36.99%. The business had revenue of $387.78 million during the quarter.
TORM Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Tuesday, April 16th were given a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 15.20%. The ex-dividend date of this dividend was Monday, April 15th. TORM's dividend payout ratio (DPR) is currently 53.22%.
Hedge Funds Weigh In On TORM
A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in TORM in the 1st quarter valued at $51,000. Atomi Financial Group Inc. lifted its position in shares of TORM by 99.9% during the 1st quarter. Atomi Financial Group Inc. now owns 13,263 shares of the company's stock worth $464,000 after buying an additional 6,627 shares during the last quarter. Swiss National Bank raised its stake in TORM by 18.4% during the first quarter. Swiss National Bank now owns 79,609 shares of the company's stock worth $2,700,000 after acquiring an additional 12,353 shares in the last quarter. PFG Advisors bought a new stake in shares of TORM during the 1st quarter valued at approximately $237,000. Finally, SG Americas Securities LLC acquired a new position in TORM during the 1st quarter worth approximately $115,000. Institutional investors and hedge funds own 73.89% of the company's stock.
About TORM
(
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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.
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