TORM (NASDAQ:TRMD) Trading Down 10.3%

Shares of TORM plc (NASDAQ:TRMDGet Rating) fell 10.3% on Friday . The company traded as low as $19.07 and last traded at $19.07. 970 shares were traded during trading, a decline of 100% from the average session volume of 257,409 shares. The stock had previously closed at $21.26.

Wall Street Analyst Weigh In

TRMD has been the subject of a number of analyst reports. Evercore ISI raised their price target on shares of TORM to $25.00 in a research note on Monday, August 22nd. TheStreet raised shares of TORM from a “c” rating to a “b-” rating in a report on Tuesday, June 7th.

TORM Stock Performance

The stock’s 50-day simple moving average is $18.79 and its 200-day simple moving average is $13.82. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 16.56 and a beta of -236.29. The company has a current ratio of 2.25, a quick ratio of 1.94 and a debt-to-equity ratio of 0.75.

TORM (NASDAQ:TRMDGet Rating) last issued its quarterly earnings data on Thursday, August 18th. The company reported $1.31 EPS for the quarter. The business 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 declared a — dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, September 1st were issued a $0.58 dividend. This is a boost 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%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of TORM by 7,393.9% during the second quarter. JPMorgan Chase & Co. now owns 871,318 shares of the company’s stock valued at $11,807,000 after purchasing an additional 859,691 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of TORM during the second quarter valued at about $5,933,000. Millennium Management LLC lifted its position in shares of TORM by 2,267.8% during the second quarter. Millennium Management LLC now owns 430,816 shares of the company’s stock valued at $5,838,000 after purchasing an additional 412,621 shares in the last quarter. Citadel Advisors LLC bought a new stake in TORM in the second quarter worth about $4,924,000. Finally, Goldman Sachs Group Inc. raised its position in TORM by 712.0% in the second quarter. Goldman Sachs Group Inc. now owns 271,541 shares of the company’s stock worth $3,679,000 after acquiring an additional 238,098 shares during the period.

TORM Company Profile

(Get Rating)

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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