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

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

Analyst Ratings Changes

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

Torm Price Performance

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

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

Torm Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 10.0%. The ex-dividend date is Thursday, May 28th. Torm’s dividend payout ratio (DPR) is currently 60.00%.

Insider Buying and Selling

In related news, CEO Jacob Balslev Meldgaard sold 170,133 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer directly 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 available at this hyperlink. 0.37% of the stock is owned by corporate insiders.

Institutional Trading of Torm

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Torm during the third quarter worth about $35,000. Tower Research Capital LLC TRC acquired a new stake in shares of Torm during the second quarter worth about $46,000. Wexford Capital LP acquired a new stake in shares of Torm during the third quarter worth about $120,000. Hilton Head Capital Partners LLC acquired a new position in Torm in the fourth quarter valued at $121,000. Finally, Invesco Ltd. acquired a new position in Torm in the second quarter valued at $190,000. 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.