Kepler Capital Markets downgraded shares of TORM (NASDAQ:TRMD - Free Report) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks.com reports.
TORM Stock Performance
NASDAQ:TRMD traded down $0.03 during trading hours on Thursday, reaching $16.45. The stock had a trading volume of 571,310 shares, compared to its average volume of 954,010. The stock has a market cap of $1.55 billion, a P/E ratio of 2.13 and a beta of 0.14. The stock has a 50 day simple moving average of $18.90 and a 200 day simple moving average of $22.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. TORM has a 12-month low of $16.14 and a 12-month high of $40.47.
TORM Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 14.59%. The ex-dividend date is Thursday, March 20th. TORM's dividend payout ratio (DPR) is presently 27.43%.
Hedge Funds Weigh In On TORM
Several large investors have recently modified their holdings of TRMD. Geode Capital Management LLC lifted its stake in shares of TORM by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company's stock valued at $2,791,000 after buying an additional 505 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of TORM by 8.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock worth $175,000 after acquiring an additional 711 shares in the last quarter. Quarry LP bought a new position in shares of TORM in the third quarter worth $51,000. NewEdge Advisors LLC grew its position in shares of TORM by 16.4% in the fourth quarter. NewEdge Advisors LLC now owns 11,964 shares of the company's stock valued at $233,000 after purchasing an additional 1,685 shares in the last quarter. Finally, Jones Financial Companies Lllp raised 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 purchasing an additional 1,939 shares during the period. Hedge funds and other institutional investors own 73.89% of the company's stock.
About TORM
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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.
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