Torm Plc (NASDAQ:TRMD) Plans Quarterly Dividend of $0.70

Torm Plc (NASDAQ:TRMD) declared a quarterly dividend on Wednesday, May 13th. Investors of record on Thursday, May 28th will be given a dividend of 0.70 per share on Thursday, June 11th. This represents a c) annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend is Thursday, May 28th.

Torm has raised its dividend by an average of 0.1%per year over the last three years. Torm has a payout ratio of 78.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Torm Price Performance

NASDAQ TRMD opened at $32.64 on Thursday. The company has a market capitalization of $3.33 billion, a PE ratio of 11.49 and a beta of 0.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 1.33. The business’s fifty day moving average is $29.47 and its 200 day moving average is $25.09. Torm has a fifty-two week low of $15.79 and a fifty-two week high of $35.33.

Torm (NASDAQ:TRMD) last released its earnings results on Wednesday, May 13th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.15). The company had revenue of $402.00 million for the quarter, compared to analysts’ expectations of $297.43 million. Torm had a net margin of 21.29% and a return on equity of 13.26%.

Institutional Investors Weigh In On Torm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRMD. Norges Bank purchased a new stake in Torm during the fourth quarter valued at approximately $24,830,000. Brevan Howard Capital Management LP purchased a new stake in Torm during the second quarter valued at approximately $7,523,000. Sei Investments Co. purchased a new stake in Torm during the first quarter valued at approximately $7,705,000. Marnell Management LLC purchased a new stake in Torm during the fourth quarter valued at approximately $4,815,000. Finally, Fearnley Asset Management AS purchased a new stake in Torm during the fourth quarter valued at approximately $4,048,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

About Torm

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.