Torm (NASDAQ:TRMD) Shares Up 4.2% - Still a Buy?

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Pareto Securities raised shares of Torm from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Kepler Capital Markets lowered shares of Torm from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 27th. Evercore ISI dropped their price target on shares of Torm from $25.00 to $23.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Fearnley Fonds raised shares of Torm from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to 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 stock's 50 day simple moving average is $17.33 and its two-hundred day simple moving average is $18.04. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 3.76 and a beta of 0.14.

Torm (NASDAQ:TRMD - Get Free Report) last issued its 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). The firm had revenue of $214.00 million during the quarter, compared to analyst estimates of $244.25 million. Torm had a net margin of 32.20% and a return on equity of 22.40%. On average, analysts forecast that Torm Plc will post 6.27 earnings per share for the current fiscal year.

Torm Cuts Dividend

The business 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 dividend on an annualized basis and a dividend yield of 8.98%. Torm's dividend payout ratio (DPR) is presently 24.68%.

Institutional Trading of Torm

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its position in shares of Torm by 94.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company's stock valued at $84,585,000 after purchasing an additional 2,115,672 shares during the period. Norges Bank acquired a new position in shares of Torm in the 4th quarter valued at approximately $21,273,000. Millennium Management LLC grew its position in shares of Torm by 439.0% in the 4th quarter. Millennium Management LLC now owns 430,399 shares of the company's stock valued at $8,371,000 after purchasing an additional 350,555 shares during the period. Vanguard Group Inc. grew its position in shares of Torm by 22.4% in the 4th quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company's stock valued at $36,417,000 after purchasing an additional 345,463 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Torm by 353.5% in the 4th quarter. Jane Street Group LLC now owns 187,998 shares of the company's stock valued at $3,613,000 after purchasing an additional 262,149 shares during the period. 73.89% of the stock is 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.