Torm (NASDAQ:TRMD) Sets New 1-Year High – Here’s Why

Torm Plc (NASDAQ:TRMD) reached a new 52-week high during trading on Wednesday . The stock traded as high as $23.70 and last traded at $23.6720, with a volume of 548176 shares traded. The stock had previously closed at $23.44.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Fearnley Fonds upgraded shares of Torm from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Torm currently has an average rating of “Hold” and a consensus price target of $23.00.

Torm Stock Performance

The business has a 50-day moving average of $21.23 and a two-hundred day moving average of $20.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.37 and a quick ratio of 2.07. The company has a market cap of $2.21 billion, a P/E ratio of 8.66 and a beta of 0.04.

Torm (NASDAQ:TRMD) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.17. Torm had a return on equity of 13.03% and a net margin of 21.37%.The business had revenue of $342.60 million for the quarter, compared to the consensus estimate of $258.49 million. On average, sell-side analysts predict that Torm Plc will post 6.27 EPS for the current fiscal year.

Torm Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Thursday, November 20th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 10.5%. The ex-dividend date of this dividend was Thursday, November 20th. This is a positive change from Torm’s previous quarterly dividend of $0.40. Torm’s payout ratio is currently 66.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TRMD. Quarry LP purchased a new position in Torm during the 3rd quarter worth approximately $35,000. Tower Research Capital LLC TRC acquired a new stake in Torm during the 2nd quarter worth $46,000. Wexford Capital LP purchased a new stake in Torm in the 3rd quarter valued at $120,000. Weaver Consulting Group purchased a new position in Torm in the second quarter worth approximately $167,000. Finally, PharVision Advisers LLC acquired a new stake in Torm in the 3rd quarter valued at approximately $214,000. 73.89% of the stock is owned by institutional investors and hedge funds.

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.