Torm (NASDAQ:TRMD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Torm (NASDAQ:TRMD) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently commented on TRMD. Weiss Ratings reiterated a “hold (c)” rating on shares of Torm in a research report on Wednesday, July 15th. Evercore restated an “outperform” rating and issued a $38.00 price objective on shares of Torm in a report on Wednesday, August 26th. Finally, Pareto Securities cut shares of Torm from a “hold” rating to a “hold” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Torm presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Torm Trading Up 0.6%

Shares of TRMD opened at $32.81 on Friday. The company has a quick ratio of 1.97, a current ratio of 2.27 and a debt-to-equity ratio of 0.33. Torm has a 12-month low of $19.30 and a 12-month high of $35.33. The firm has a market capitalization of $3.35 billion, a PE ratio of 5.41 and a beta of 0.09. The stock’s fifty day simple moving average is $29.45 and its 200-day simple moving average is $29.33.

Torm (NASDAQ:TRMD) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.06). The firm had revenue of $662.80 million during the quarter, compared to analyst estimates of $499.01 million. Torm had a return on equity of 27.24% and a net margin of 35.51%.

Torm Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a dividend of $2.40 per share. This represents a $9.60 dividend on an annualized basis and a yield of 29.3%. This is an increase from Torm’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, September 10th. Torm’s dividend payout ratio (DPR) is 33.61%.

Institutional Trading of Torm

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership raised its position in shares of Torm by 0.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,064,258 shares of the company’s stock valued at $86,032,000 after acquiring an additional 21,280 shares during the period. Vanguard Group Inc. grew its holdings in Torm by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,341,185 shares of the company’s stock valued at $46,629,000 after purchasing an additional 11,457 shares during the period. Norges Bank acquired a new position in Torm during the fourth quarter valued at approximately $24,830,000. Renaissance Technologies LLC increased its stake in Torm by 25.8% in the fourth quarter. Renaissance Technologies LLC now owns 536,425 shares of the company’s stock valued at $10,503,000 after purchasing an additional 110,000 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in Torm in the second quarter valued at approximately $7,523,000. 73.89% of the stock is owned by institutional investors.

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.