Short Interest in Torm Plc (NASDAQ:TRMD) Increases By 26.3%

Torm Plc (NASDAQ:TRMD - Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 665,121 shares, a growth of 26.3% from the March 31st total of 526,628 shares. Approximately 0.7% of the company's stock are short sold. Based on an average daily volume of 697,536 shares, the days-to-cover ratio is currently 1.0 days.

Torm Stock Up 2.2%

Shares of NASDAQ:TRMD opened at $31.97 on Wednesday. The business's 50 day moving average is $28.53 and its 200 day moving average is $24.27. Torm has a 12-month low of $15.79 and a 12-month high of $32.38. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 11.26 and a beta of 0.02. The company has a quick ratio of 1.16, a current ratio of 1.33 and a debt-to-equity ratio of 0.32.

Torm (NASDAQ:TRMD - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. Torm had a net margin of 21.29% and a return on equity of 13.26%. The firm had revenue of $352.60 million for the quarter, compared to the consensus estimate of $236.21 million.

Torm Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Thursday, March 12th were paid a $0.70 dividend. This is a positive change from Torm's previous quarterly dividend of $0.62. The ex-dividend date was Thursday, March 12th. This represents a $2.80 annualized dividend and a yield of 8.8%. Torm's dividend payout ratio (DPR) is 71.83%.

Hedge Funds Weigh In On Torm

Hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC increased its position in shares of Torm by 2.6% during the third quarter. NewEdge Advisors LLC now owns 18,109 shares of the company's stock valued at $373,000 after acquiring an additional 459 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Torm by 1.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 31,391 shares of the company's stock valued at $615,000 after purchasing an additional 477 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Torm by 3.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 15,214 shares of the company's stock valued at $431,000 after purchasing an additional 479 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Torm by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 83,133 shares of the company's stock worth $1,385,000 after purchasing an additional 611 shares during the period. Finally, Glenorchy Capital Ltd raised its stake in shares of Torm by 3.5% during the 2nd quarter. Glenorchy Capital Ltd now owns 29,670 shares of the company's stock worth $494,000 after purchasing an additional 1,003 shares during the period. Hedge funds and other institutional investors own 73.89% of the company's stock.

Analyst Upgrades and Downgrades

TRMD has been the topic of several research reports. Evercore set a $35.00 price objective on shares of Torm in a report on Tuesday, April 21st. Weiss Ratings reiterated a "hold (c)" rating on shares of Torm in a report on Friday, April 17th. Finally, Wall Street Zen upgraded Torm from a "hold" rating to a "buy" rating in a report on Sunday, April 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Torm currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

About Torm

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.

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