TORM plc (NASDAQ:TRMD – Get Rating) shares gapped up before the market opened on Friday . The stock had previously closed at $19.24, but opened at $20.26. TORM shares last traded at $20.00, with a volume of 204 shares traded.
Analysts Set New Price Targets
Several brokerages have recently commented on TRMD. Evercore ISI raised their target price on shares of TORM to $25.00 in a report on Monday, August 22nd. HC Wainwright lifted their price objective on shares of TORM from $14.00 to $16.00 in a research note on Thursday, May 12th. Pareto Securities initiated coverage on shares of TORM in a research report on Wednesday, May 25th. They issued a "buy" rating on the stock. Finally, TheStreet upgraded shares of TORM from a "c" rating to a "b-" rating in a research report on Tuesday, June 7th.
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TORM Trading Up 5.7 %
The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 17.83 and a beta of -245.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.25 and a quick ratio of 1.94. The firm's fifty day moving average is $16.22 and its 200-day moving average is $12.35.
TORM (NASDAQ:TRMD – Get Rating) last posted its quarterly earnings results on Thursday, August 18th. The company reported $1.31 earnings per share 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. Stockholders of record on Thursday, September 1st will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, August 31st. This is an increase from TORM's previous — dividend of $0.10. TORM's payout ratio is presently 36.84%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank increased its holdings in TORM by 8.2% during the 4th quarter. Swiss National Bank now owns 53,772 shares of the company's stock worth $424,000 after acquiring an additional 4,093 shares during the period. WealthTrust Axiom LLC increased its holdings in shares of TORM by 16.7% in the 1st quarter. WealthTrust Axiom LLC now owns 35,000 shares of the company's stock worth $310,000 after buying an additional 5,000 shares during the last quarter. Credit Suisse AG increased its holdings in shares of TORM by 37.2% in the 2nd quarter. Credit Suisse AG now owns 21,504 shares of the company's stock worth $2,066,000 after buying an additional 5,827 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of TORM by 37.8% in the 4th quarter. Allianz Asset Management GmbH now owns 25,952 shares of the company's stock worth $205,000 after buying an additional 7,121 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. bought a new position in shares of TORM during the 2nd quarter valued at $147,000.
About TORM
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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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