Torm (NASDAQ:TRMD) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Torm (NASDAQ:TRMD) from a strong-buy rating to a buy rating in a research note released on Sunday morning,Wall Street Zen reports.

Several other equities analysts also recently commented on TRMD. Weiss Ratings upgraded Torm from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 28th. Evercore reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Torm in a report on Wednesday, August 26th. Finally, Pareto Securities lowered shares of Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Torm Stock Performance

TRMD opened at $35.18 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.97 and a current ratio of 2.27. The company has a market cap of $3.59 billion, a PE ratio of 5.80 and a beta of 0.12. The stock has a 50-day moving average of $29.93 and a 200-day moving average of $29.57. Torm has a 52-week low of $19.30 and a 52-week high of $35.53.

Torm (NASDAQ:TRMD) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06). Torm had a net margin of 35.51% and a return on equity of 27.24%. The company had revenue of $662.80 million during the quarter, compared to the consensus estimate of $499.01 million.

Torm Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a yield of 27.3%. The ex-dividend date is Thursday, September 10th. This is a positive change from Torm’s previous quarterly dividend of $0.70. Torm’s dividend payout ratio is currently 33.61%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Royal Bank of Canada grew its position in Torm by 94.5% during the first quarter. Royal Bank of Canada now owns 70,962 shares of the company’s stock worth $1,980,000 after buying an additional 34,482 shares in the last quarter. Bank of America Corp DE raised its holdings in Torm by 209.8% in the 1st quarter. Bank of America Corp DE now owns 130,421 shares of the company’s stock valued at $3,639,000 after acquiring an additional 88,318 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Torm in the 2nd quarter valued at approximately $2,632,000. Public Employees Retirement System of Ohio raised its holdings in Torm by 153.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 78,203 shares of the company’s stock valued at $2,190,000 after acquiring an additional 47,386 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Torm in the 1st quarter worth approximately $7,705,000. 73.89% of the stock is currently 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.