TORM (NASDAQ:TRMD) Sees Unusually-High Trading Volume

Shares of TORM plc (NASDAQ:TRMD) saw unusually-strong trading volume on Wednesday . Approximately 792,500 shares were traded during trading, an increase of 24% from the previous session’s volume of 637,181 shares.The stock last traded at $36.07 and had previously closed at $34.93.

TORM Price Performance

The firm has a 50 day moving average price of $34.18 and a two-hundred day moving average price of $32.62. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.37 and a current ratio of 2.60. The company has a market cap of $2.92 billion, a P/E ratio of 4.68 and a beta of 0.16.

TORM (NASDAQ:TRMD) last announced its quarterly earnings data on Thursday, March 7th. The company reported $1.56 EPS for the quarter. The business had revenue of $387.78 million during the quarter. TORM had a return on equity of 36.99% and a net margin of 42.64%.

TORM Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Tuesday, April 16th were given a $1.36 dividend. The ex-dividend date of this dividend was Monday, April 15th. This represents a $5.44 annualized dividend and a yield of 15.20%. TORM’s dividend payout ratio (DPR) is 53.22%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Creekmur Asset Management LLC acquired a new position in TORM during the fourth quarter worth $27,000. PSI Advisors LLC acquired a new stake in shares of TORM during the 4th quarter valued at approximately $30,000. Scarborough Advisors LLC acquired a new position in TORM during the fourth quarter valued at approximately $37,000. Optimum Investment Advisors boosted its position in TORM by 200.0% in the 4th quarter. Optimum Investment Advisors now owns 1,500 shares of the company’s stock valued at $46,000 after buying an additional 1,000 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of TORM in the 1st quarter valued at approximately $51,000. Institutional investors and hedge funds 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.