TORM plc (NASDAQ:TRMD – Get Rating) gapped down before the market opened on Monday . The stock had previously closed at $21.66, but opened at $19.70. TORM shares last traded at $20.98, with a volume of 277 shares traded.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. Evercore ISI raised their price objective on shares of TORM to $25.00 in a research note on Monday, August 22nd. Pareto Securities assumed coverage on shares of TORM in a research report on Wednesday, May 25th. They set a "buy" rating for the company. Finally, TheStreet raised shares of TORM from a "c" rating to a "b-" rating in a report on Tuesday, June 7th.
Get TORM alerts:TORM Stock Performance
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 firm's 50-day moving average is $18.46 and its two-hundred day moving average is $13.67. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 18.71 and a beta of -236.29.
TORM (NASDAQ:TRMD – Get Rating) last released 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 business also recently declared a — dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were given a dividend of $0.58 per share. The ex-dividend date was Wednesday, August 31st. This is an increase from TORM's previous — dividend of $0.10. TORM's dividend payout ratio is 36.84%.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. B. Riley Wealth Management Inc. acquired a new stake in TORM in the 1st quarter valued at about $266,000. WealthTrust Axiom LLC raised its holdings in TORM by 16.7% in the 1st quarter. WealthTrust Axiom LLC now owns 35,000 shares of the company's stock valued at $310,000 after acquiring an additional 5,000 shares during the last quarter. Quaero Capital S.A. raised its holdings in TORM by 5.6% in the 1st quarter. Quaero Capital S.A. now owns 295,609 shares of the company's stock valued at $2,555,000 after acquiring an additional 15,609 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in TORM by 37.8% in the 4th quarter. Allianz Asset Management GmbH now owns 25,952 shares of the company's stock valued at $205,000 after acquiring an additional 7,121 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in TORM by 220,324.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 182,952 shares of the company's stock valued at $1,446,000 after acquiring an additional 182,869 shares during the last quarter.
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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