Torm (NASDAQ:TRMD) Shares Up 4.6% - Here's Why

Torm Plc (NASDAQ:TRMD - Get Free Report) rose 4.6% during mid-day trading on Tuesday . The stock traded as high as $19.09 and last traded at $19.10. Approximately 170,972 shares traded hands during trading, a decline of 82% from the average daily volume of 955,510 shares. The stock had previously closed at $18.26.

Analysts Set New Price Targets

TRMD has been the topic of several research analyst reports. Evercore ISI cut their target price on shares of Torm from $25.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Fearnley Fonds raised shares of Torm from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Kepler Capital Markets lowered shares of Torm from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th. Finally, Pareto Securities raised shares of Torm from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.50.

Torm Price Performance

The stock has a market capitalization of $1.78 billion, a P/E ratio of 3.99 and a beta of 0.13. The business's 50 day simple moving average is $16.93 and its two-hundred day simple moving average is $18.20. The company has a quick ratio of 2.28, a current ratio of 2.55 and a debt-to-equity ratio of 0.48.

Torm (NASDAQ:TRMD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.02). Torm had a net margin of 32.20% and a return on equity of 22.40%. The business had revenue of $214.00 million during the quarter, compared to the consensus estimate of $244.25 million. As a group, sell-side analysts forecast that Torm Plc will post 6.27 earnings per share for the current fiscal year.

Torm Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 22nd were issued a $0.40 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 8.46%. Torm's dividend payout ratio is currently 24.68%.

Institutional Trading of Torm

Several institutional investors and hedge funds have recently made changes to their positions in TRMD. Wealth Preservation Advisors LLC purchased a new stake in shares of Torm in the first quarter valued at about $69,000. CWM LLC raised its holdings in shares of Torm by 1,712.3% in the first quarter. CWM LLC now owns 5,292 shares of the company's stock valued at $87,000 after purchasing an additional 5,000 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Torm by 49.5% in the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock valued at $114,000 after purchasing an additional 1,939 shares during the last quarter. Hibernia Wealth Partners LLC purchased a new stake in shares of Torm in the first quarter valued at about $167,000. Finally, Larson Financial Group LLC raised its holdings in shares of Torm by 4,694.8% in the first quarter. Larson Financial Group LLC now owns 10,213 shares of the company's stock valued at $168,000 after purchasing an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors 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.