TORM plc (NASDAQ:TRMD – Get Rating)'s share price was down 10.3% on Friday . The company traded as low as $19.07 and last traded at $19.07. Approximately 970 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 257,409 shares. The stock had previously closed at $21.26.
Analyst Ratings Changes
A number of research analysts recently weighed in on TRMD shares. Evercore ISI raised their target price on shares of TORM to $25.00 in a research report on Monday, August 22nd. TheStreet raised shares of TORM from a "c" rating to a "b-" rating in a research report on Tuesday, June 7th.
Get TORM alerts:TORM Trading Down 11.1 %
The business's 50-day moving average price is $18.89 and its 200 day moving average price is $13.93. The company has a market cap of $1.54 billion, a P/E ratio of 16.57 and a beta of -236.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.94 and a current ratio of 2.25.
TORM (NASDAQ:TRMD – Get Rating) last announced its quarterly earnings data on Thursday, August 18th. The company reported $1.31 EPS for the quarter. The company had revenue of $338.50 million during the quarter. TORM had a net margin of 10.54% and a return on equity of 8.53%.TORM Increases Dividend
The business also recently announced a — dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were issued a dividend of $0.58 per share. This is an increase from TORM's previous — dividend of $0.10. The ex-dividend date was Wednesday, August 31st. TORM's payout ratio is presently 36.84%.
Institutional Trading of TORM
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank boosted its holdings in shares of TORM by 7.9% during the 1st quarter. Swiss National Bank now owns 58,020 shares of the company's stock worth $503,000 after buying an additional 4,248 shares during the period. WealthTrust Axiom LLC boosted its holdings in shares of TORM by 16.7% during 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 period. Credit Suisse AG boosted its holdings in shares of TORM by 37.2% during 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 period. Allianz Asset Management GmbH boosted its holdings in shares of TORM by 37.8% during 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 period. Finally, Mraz Amerine & Associates Inc. bought a new stake in shares of TORM during the 2nd quarter worth about $147,000.
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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