Torm Plc (NASDAQ:TRMD) Short Interest Update

Torm Plc (NASDAQ:TRMD) saw a significant drop in short interest in January. As of January 15th, there was short interest totaling 663,615 shares, a drop of 35.5% from the December 31st total of 1,028,304 shares. Based on an average daily trading volume, of 638,036 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.7% of the shares of the company are sold short. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 638,036 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TRMD. Fearnley Fonds upgraded Torm from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Torm in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.00.

Torm Stock Performance

NASDAQ TRMD opened at $24.34 on Monday. The firm’s fifty day moving average price is $21.32 and its two-hundred day moving average price is $21.14. The stock has a market cap of $2.29 billion, a PE ratio of 8.95 and a beta of 0.04. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.07 and a current ratio of 2.37. Torm has a fifty-two week low of $13.60 and a fifty-two week high of $24.95.

Torm (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.17. The company had revenue of $342.60 million during the quarter, compared to the consensus estimate of $258.49 million. Torm had a return on equity of 13.03% and a net margin of 21.37%. On average, equities analysts expect that Torm will post 6.27 EPS for the current fiscal year.

Torm Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 20th were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 10.2%. This is an increase from Torm’s previous quarterly dividend of $0.40. Torm’s payout ratio is currently 66.54%.

Hedge Funds Weigh In On Torm

Several hedge funds and other institutional investors have recently bought and sold shares of TRMD. Vanguard Group Inc. grew its holdings in Torm by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,341,185 shares of the company’s stock worth $46,629,000 after acquiring an additional 11,457 shares during the period. Norges Bank bought a new stake in shares of Torm during the 2nd quarter valued at about $20,998,000. Brevan Howard Capital Management LP acquired a new stake in Torm during the second quarter worth approximately $7,523,000. Lind Value II ApS acquired a new stake in Torm during the second quarter worth approximately $7,283,000. Finally, Barclays PLC increased its holdings in Torm by 613.2% in the third quarter. Barclays PLC now owns 206,508 shares of the company’s stock worth $4,258,000 after purchasing an additional 177,551 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

Torm Company Profile

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.