Tidal Investments LLC acquired a new position in shares of TORM plc (NASDAQ:TRMD - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 46,820 shares of the company's stock, valued at approximately $1,601,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. National Bank of Canada FI purchased a new position in TORM in the second quarter valued at about $26,000. Assetmark Inc. boosted its stake in TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company's stock valued at $41,000 after acquiring an additional 516 shares in the last quarter. Fifth Third Bancorp purchased a new position in TORM in the second quarter worth $43,000. Quarry LP purchased a new position in shares of TORM in the 3rd quarter valued at approximately $51,000. Finally, Point72 Hong Kong Ltd purchased a new stake in TORM during the 2nd quarter worth approximately $78,000. 73.89% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on TRMD shares. Jefferies Financial Group decreased their price target on shares of TORM from $37.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Fearnley Fonds raised TORM to a "hold" rating in a report on Friday, September 27th.
View Our Latest Stock Analysis on TORM
TORM Stock Performance
NASDAQ:TRMD traded up $0.15 during mid-day trading on Wednesday, hitting $18.44. The company's stock had a trading volume of 979,846 shares, compared to its average volume of 825,992. The business's fifty day moving average is $24.03 and its two-hundred day moving average is $32.03. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 2.39 and a beta of 0.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. TORM plc has a 1 year low of $18.01 and a 1 year high of $40.47.
TORM Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were given a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a yield of 19.00%. The ex-dividend date was Thursday, November 21st. TORM's dividend payout ratio is currently 45.28%.
About TORM
(
Free Report)
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.
See Also
Before you consider TORM, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TORM wasn't on the list.
While TORM currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
