Torm (NASDAQ:TRMD) Shares Down 3.9% – Should You Sell?

Torm Plc (NASDAQ:TRMD) traded down 3.9% on Tuesday . The company traded as low as $17.49 and last traded at $17.52. 402,635 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 960,430 shares. The stock had previously closed at $18.23.

Wall Street Analyst Weigh In

TRMD has been the subject of several research reports. Pareto Securities upgraded shares of Torm from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Fearnley Fonds upgraded shares of Torm from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Kepler Capital Markets cut Torm from a “hold” rating to a “strong sell” rating in a report on Thursday, March 27th. Finally, Evercore ISI reduced their price objective on Torm from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Torm has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

Torm Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 2.55 and a quick ratio of 2.28. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 3.67 and a beta of 0.13. The stock’s fifty day moving average price is $16.99 and its 200-day moving average price is $18.16.

Torm (NASDAQ:TRMD) last announced its earnings results on Thursday, May 8th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.02). The firm had revenue of $214.00 million for the quarter, compared to analyst estimates of $244.25 million. Torm had a net margin of 32.20% and a return on equity of 22.40%. Equities research analysts predict that Torm Plc will post 6.27 EPS for the current fiscal year.

Torm Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 22nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 9.21%. The ex-dividend date of this dividend was Thursday, May 22nd. Torm’s dividend payout ratio is currently 24.68%.

Hedge Funds Weigh In On Torm

Several institutional investors and hedge funds have recently bought and sold shares of TRMD. Wealth Preservation Advisors LLC acquired a new stake in shares of Torm during the first quarter worth approximately $69,000. CWM LLC lifted its position in Torm by 1,712.3% in the 1st quarter. CWM LLC now owns 5,292 shares of the company’s stock worth $87,000 after buying an additional 5,000 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Torm by 49.5% during the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock valued at $114,000 after buying an additional 1,939 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Torm by 8.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company’s stock valued at $175,000 after acquiring an additional 711 shares in the last quarter. Finally, Hibernia Wealth Partners LLC acquired a new position in shares of Torm in the first quarter worth $167,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

Torm Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.