Torm (NASDAQ:TRMD) Stock Price Down 5.4% – Time to Sell?

Torm Plc (NASDAQ:TRMD) traded down 5.4% during trading on Thursday . The company traded as low as $28.12 and last traded at $28.2060. 347,434 shares were traded during mid-day trading, a decline of 57% from the average session volume of 809,093 shares. The stock had previously closed at $29.82.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a research note on Friday, April 17th. Pareto Securities lowered shares of Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. Evercore set a $35.00 price objective on shares of Torm in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of Torm from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.00.

Torm Trading Down 6.1%

The firm has a market cap of $2.86 billion, a PE ratio of 8.24 and a beta of 0.14. The company’s fifty day moving average price is $30.24 and its two-hundred day moving average price is $25.79. The company has a quick ratio of 1.20, a current ratio of 1.40 and a debt-to-equity ratio of 0.35.

Torm (NASDAQ:TRMD) last issued its earnings results on Wednesday, May 13th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.15). The firm had revenue of $402.00 million during the quarter, compared to analysts’ expectations of $297.43 million. Torm had a net margin of 24.45% and a return on equity of 15.81%.

Torm Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.80 annualized dividend and a dividend yield of 10.0%. Torm’s payout ratio is presently 60.00%.

Insider Buying and Selling at Torm

In other news, CEO Jacob Balslev Meldgaard sold 170,133 shares of Torm stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $32.30, for a total value of $5,495,295.90. Following the sale, the chief executive officer owned 348,411 shares of the company’s stock, valued at $11,253,675.30. The trade was a 32.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by insiders.

Institutional Trading of Torm

A number of institutional investors have recently added to or reduced their stakes in TRMD. Quarry LP purchased a new stake in Torm during the third quarter worth about $35,000. Tower Research Capital LLC TRC purchased a new stake in Torm during the second quarter worth about $46,000. Wexford Capital LP purchased a new stake in Torm during the third quarter worth about $120,000. Hilton Head Capital Partners LLC purchased a new stake in Torm during the fourth quarter worth about $121,000. Finally, Invesco Ltd. purchased a new stake in Torm during the second quarter worth about $190,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

About Torm

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.