TORM plc (NASDAQ:TRMD – Get Rating)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $22.80 and last traded at $22.70, with a volume of 1909 shares changing hands. The stock had previously closed at $21.24.
Analyst Ratings Changes
TRMD has been the topic of several research analyst reports. Pareto Securities initiated coverage on shares of TORM in a research report on Wednesday, May 25th. They set a "buy" rating on the stock. TheStreet raised shares of TORM from a "c" rating to a "b-" rating in a report on Tuesday, June 7th. Finally, Evercore ISI raised their price objective on shares of TORM to $25.00 in a research note on Monday, August 22nd.
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TORM Stock Down 2.5 %
The firm's fifty day moving average is $17.92 and its 200 day moving average is $13.36. The company has a current ratio of 2.25, a quick ratio of 1.94 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.80 billion, a P/E ratio of 19.33 and a beta of -236.29.
TORM (NASDAQ:TRMD – Get Rating) last issued its earnings results on Thursday, August 18th. The company reported $1.31 EPS for the quarter. TORM had a net
margin of 10.54% and a return on equity of 8.53%. The firm had revenue of $338.50 million during the quarter.
TORM Increases Dividend
The firm also recently announced a — dividend, which will be paid on Friday, September 16th. Investors of record on Thursday, September 1st will be issued a dividend of $0.58 per share. This is a boost from TORM's previous — dividend of $0.10. The ex-dividend date is Wednesday, August 31st. TORM's dividend payout ratio is presently 36.84%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in TORM by 7,393.9% during the second quarter. JPMorgan Chase & Co. now owns 871,318 shares of the company's stock worth $11,807,000 after purchasing an additional 859,691 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in TORM in the second quarter valued at $5,933,000. Millennium Management LLC lifted its stake in TORM by 2,267.8% in the second quarter. Millennium Management LLC now owns 430,816 shares of the company's stock valued at $5,838,000 after acquiring an additional 412,621 shares during the last quarter. Citadel Advisors LLC acquired a new stake in TORM in the second quarter valued at $4,924,000. Finally, Quaero Capital S.A. lifted its stake in TORM by 19.5% in the second quarter. Quaero Capital S.A. now owns 353,383 shares of the company's stock valued at $4,785,000 after acquiring an additional 57,774 shares during the last quarter.
TORM Company Profile
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TORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. The company transports gasoline, jet fuel, and naphtha. As of March 23, 2022, it operated a fleet of approximately 85 vessels. The company was founded in 1889 and is headquartered in London, the United Kingdom.
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