Torm (NASDAQ:TRMD) Shares Down 2.1% – Time to Sell?

Shares of Torm Plc (NASDAQ:TRMD) dropped 2.1% during mid-day trading on Tuesday . The stock traded as low as $19.53 and last traded at $19.54. Approximately 420,442 shares traded hands during trading, an increase of 2% from the average daily volume of 413,518 shares. The stock had previously closed at $19.96.

Analyst Upgrades and Downgrades

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

Torm Stock Performance

The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 7.18 and a beta of 0.01. The stock’s 50 day moving average price is $21.27 and its 200 day moving average price is $20.41. The company has a current ratio of 2.37, a quick ratio of 2.07 and a debt-to-equity ratio of 0.36.

Torm (NASDAQ:TRMD) last released its earnings results on Thursday, November 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $258.49 million. Analysts expect that Torm Plc will post 6.27 earnings per share for the current year.

Torm Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 20th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 12.7%. The ex-dividend date of this dividend was Thursday, November 20th. This is a boost from Torm’s previous quarterly dividend of $0.40. Torm’s payout ratio is currently 66.54%.

Hedge Funds Weigh In On Torm

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Torm in the third quarter valued at $35,000. Tower Research Capital LLC TRC acquired a new stake in Torm in the 2nd quarter valued at about $46,000. Wexford Capital LP bought a new position in Torm during the third quarter worth about $120,000. Weaver Consulting Group acquired a new position in Torm during the second quarter worth approximately $167,000. Finally, Kovack Advisors Inc. acquired a new position in Torm during the second quarter worth approximately $174,000. 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.