Torm (NASDAQ:TRMD) Hits New 1-Year High – What’s Next?

Shares of Torm Plc (NASDAQ:TRMD) reached a new 52-week high on Monday . The company traded as high as $32.71 and last traded at $32.5490, with a volume of 8445 shares trading hands. The stock had previously closed at $32.56.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Evercore set a $35.00 price objective on Torm in a research note on Tuesday, April 21st. Wall Street Zen raised Torm from a “hold” rating to a “buy” rating in a research note on Sunday, April 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Torm in a research report on Friday, April 17th. One 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 company. According to MarketBeat, Torm presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Torm Trading Up 5.5%

The company has a market capitalization of $3.56 billion, a P/E ratio of 12.28 and a beta of 0.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.33 and a quick ratio of 1.16. The business’s 50-day moving average price is $28.90 and its two-hundred day moving average price is $24.55.

Torm (NASDAQ:TRMD) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $352.60 million during the quarter, compared to analysts’ expectations of $236.21 million. Torm had a net margin of 21.29% and a return on equity of 13.26%.

Torm Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Thursday, March 12th were given a dividend of $0.70 per share. This is an increase from Torm’s previous quarterly dividend of $0.62. This represents a $2.80 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend was Thursday, March 12th. Torm’s payout ratio is 71.83%.

Hedge Funds Weigh In On Torm

Institutional investors and hedge funds have recently modified their holdings of the business. Folketrygdfondet bought a new position in Torm in the third quarter valued at approximately $1,796,000. Journey Advisory Group LLC bought a new stake in shares of Torm during the third quarter worth $2,920,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Torm by 275.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 91,286 shares of the company’s stock worth $1,785,000 after acquiring an additional 66,992 shares during the period. Tweedy Browne Co LLC raised its holdings in shares of Torm by 109.5% during the third quarter. Tweedy Browne Co LLC now owns 40,007 shares of the company’s stock worth $825,000 after acquiring an additional 20,914 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new stake in Torm in the 3rd quarter valued at $496,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.

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.