Torm (NASDAQ:TRMD) Shares Down 3.9% - Here's Why

Torm Plc (NASDAQ:TRMD - Get Free Report)'s stock price fell 3.9% during trading on Tuesday . The company traded as low as $17.49 and last traded at $17.52. 402,635 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 960,430 shares. The stock had previously closed at $18.23.

Analyst Ratings Changes

A number of research analysts have commented on TRMD shares. Evercore ISI reduced their target price on Torm from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Pareto Securities upgraded Torm from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Kepler Capital Markets downgraded shares of Torm from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th. Finally, Fearnley Fonds raised shares of Torm from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.50.

Torm Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 2.55 and a quick ratio of 2.28. The company has a 50-day simple moving average of $16.99 and a two-hundred day simple moving average of $18.16. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 3.67 and a beta of 0.13.

Torm (NASDAQ:TRMD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.02). Torm had a net margin of 32.20% and a return on equity of 22.40%. The firm had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. On average, equities research analysts predict that Torm Plc will post 6.27 earnings per share for the current year.

Torm Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd were paid a $0.40 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 9.21%. Torm's payout ratio is 24.68%.

Institutional Investors Weigh In On Torm

A number of hedge funds and other institutional investors have recently modified their holdings of TRMD. Tower Research Capital LLC TRC increased its stake in Torm by 8.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock valued at $175,000 after buying an additional 711 shares during the period. Geode Capital Management LLC increased its stake in shares of Torm by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 82,466 shares of the company's stock valued at $1,604,000 after acquiring an additional 840 shares during the period. Apollon Wealth Management LLC increased its stake in shares of Torm by 9.1% during the first quarter. Apollon Wealth Management LLC now owns 11,691 shares of the company's stock valued at $193,000 after acquiring an additional 972 shares during the period. NewEdge Advisors LLC lifted its position in Torm by 16.4% in the fourth quarter. NewEdge Advisors LLC now owns 11,964 shares of the company's stock worth $233,000 after purchasing an additional 1,685 shares during the period. Finally, Midwest Professional Planners LTD. lifted its position in Torm by 2.7% in the first quarter. Midwest Professional Planners LTD. now owns 68,441 shares of the company's stock worth $1,128,000 after purchasing an additional 1,814 shares during the period. 73.89% of the stock is currently owned by institutional investors.

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.

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