Torm (NASDAQ:TRMD) Hits New 52-Week High - Time to Buy?

Key Points

• Torm (TRMD) hit a new 52‑week high, trading as high as $32.00 and last at $31.7850 on Tuesday, up roughly 2.9% on volume of 12,440 shares.
• Analysts show a consensus rating of Moderate Buy with an average price target of $35.00; Evercore specifically set a $35 target and broker ratings range from Hold to Strong Buy.
• Torm raised its quarterly dividend to $0.70 (annualized $2.80) for a yield of about 8.7%, and recently reported quarterly EPS of $0.87 beating estimates alongside higher‑than‑expected revenue.

Torm Plc (NASDAQ:TRMD - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $32.00 and last traded at $31.7850, with a volume of 12440 shares. The stock had previously closed at $31.27.

Analysts Set New Price Targets

Several research firms have recently commented on TRMD. Wall Street Zen raised shares of Torm from a "hold" rating to a "buy" rating in a research report on Sunday, April 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Torm in a report on Friday, April 17th. Finally, Evercore set a $35.00 price objective on Torm in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Torm Trading Up 2.9%

The stock has a fifty day simple moving average of $28.41 and a 200 day simple moving average of $24.18. The firm has a market capitalization of $3.28 billion, a P/E ratio of 11.29 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 issued its earnings results on Thursday, February 26th. The company reported $0.87 earnings per share (EPS) for the quarter, beating 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 company had revenue of $352.60 million for the quarter, compared to the consensus estimate of $236.21 million.

Torm Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Thursday, March 12th were given a dividend of $0.70 per share. This is a positive change from Torm's previous quarterly dividend of $0.62. This represents a $2.80 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date was Thursday, March 12th. Torm's dividend payout ratio (DPR) is currently 71.83%.

Institutional Trading of Torm

Several hedge funds have recently bought and sold shares of TRMD. NewEdge Advisors LLC raised its stake in 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 purchasing an additional 459 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised 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 buying an additional 477 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Torm by 3.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 15,214 shares of the company's stock valued at $431,000 after acquiring an additional 479 shares during the last quarter. Geode Capital Management LLC grew its position in Torm by 0.7% in the second quarter. Geode Capital Management LLC now owns 83,133 shares of the company's stock worth $1,385,000 after acquiring an additional 611 shares in the last quarter. Finally, Glenorchy Capital Ltd increased its stake in Torm by 3.5% during the second quarter. Glenorchy Capital Ltd now owns 29,670 shares of the company's stock worth $494,000 after acquiring an additional 1,003 shares during the last quarter. Hedge funds and other institutional investors own 73.89% of the company's stock.

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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