TORM (NASDAQ:TRMD) Shares Gap Down to $21.66

Shares of TORM plc (NASDAQ:TRMDGet 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 changing hands.

Analyst Ratings Changes

Several analysts have commented on TRMD shares. Pareto Securities started coverage on shares of TORM in a research report on Wednesday, May 25th. They set a “buy” rating for the company. TheStreet raised shares of TORM from a “c” rating to a “b-” rating in a research report on Tuesday, June 7th. Finally, Evercore ISI increased their price target on shares of TORM to $25.00 in a research report on Monday, August 22nd.

TORM Trading Down 1.8 %

The firm has a market capitalization of $1.74 billion, a PE ratio of 18.71 and a beta of -236.29. The company has a quick ratio of 1.94, a current ratio of 2.25 and a debt-to-equity ratio of 0.75. The company’s 50-day simple moving average is $18.46 and its 200 day simple moving average is $13.67.

TORM (NASDAQ:TRMDGet Rating) last announced its quarterly earnings data on Thursday, August 18th. The company reported $1.31 EPS for the quarter. The firm 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 disclosed a — dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were given a $0.58 dividend. This is a positive change from TORM’s previous — dividend of $0.10. The ex-dividend date was Wednesday, August 31st. TORM’s dividend payout ratio (DPR) is presently 36.84%.

Hedge Funds Weigh In On TORM

A number of institutional investors have recently bought and sold shares of TRMD. Allianz Asset Management GmbH raised its position in 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 last quarter. O Shaughnessy Asset Management LLC raised its position in TORM by 220,324.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 182,952 shares of the company’s stock worth $1,446,000 after buying an additional 182,869 shares during the last quarter. Quaero Capital S.A. raised its position in TORM by 5.6% during the 1st quarter. Quaero Capital S.A. now owns 295,609 shares of the company’s stock worth $2,555,000 after buying an additional 15,609 shares during the last quarter. WealthTrust Axiom LLC raised its position in 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 last quarter. Finally, Swiss National Bank raised its position in 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 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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