Torm (NASDAQ:TRMD) Trading 4.2% Higher - Here's Why

Torm Plc (NASDAQ:TRMD - Get Free Report) shares were up 4.2% during trading on Monday . The company traded as high as $17.92 and last traded at $18.04. Approximately 157,583 shares were traded during trading, a decline of 84% from the average daily volume of 977,566 shares. The stock had previously closed at $17.31.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Fearnley Fonds raised Torm from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Pareto Securities upgraded Torm from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Evercore ISI dropped their price objective on Torm from $25.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Kepler Capital Markets downgraded Torm from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th. 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 has an average rating of "Moderate Buy" and a consensus price target of $27.50.

Torm Trading Down 0.2%

The firm has a market cap of $1.68 billion, a PE ratio of 3.78 and a beta of 0.14. The firm has a 50 day moving average of $17.29 and a 200 day moving average of $18.05. 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 posted its earnings results on Thursday, May 8th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.02). The company had revenue of $214.00 million for the quarter, compared to analysts' expectations of $244.25 million. Torm had a return on equity of 22.40% and a net margin of 32.20%. Equities analysts anticipate that Torm Plc will post 6.27 earnings per share for the current year.

Torm Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.40 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 8.93%. Torm's dividend payout ratio is currently 24.68%.

Institutional Investors Weigh In On Torm

Several institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its position in shares of Torm by 94.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company's stock worth $84,585,000 after acquiring an additional 2,115,672 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Torm by 5.9% in the first quarter. Vanguard Group Inc. now owns 1,996,234 shares of the company's stock worth $32,688,000 after buying an additional 111,194 shares in the last quarter. Norges Bank purchased a new stake in shares of Torm in the fourth quarter worth $21,273,000. Renaissance Technologies LLC raised its position in shares of Torm by 24.3% in the fourth quarter. Renaissance Technologies LLC now owns 561,889 shares of the company's stock worth $10,929,000 after buying an additional 109,916 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Torm by 439.0% in the fourth quarter. Millennium Management LLC now owns 430,399 shares of the company's stock worth $8,371,000 after buying an additional 350,555 shares in the last quarter. Hedge funds and other institutional investors own 73.89% of the company's stock.

Torm Company Profile

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.