TORM (NASDAQ:TRMD) Reaches New 1-Year Low - Here's Why

TORM plc (NASDAQ:TRMD - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $18.14 and last traded at $18.25, with a volume of 366887 shares changing hands. The stock had previously closed at $18.59.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Jefferies Financial Group dropped their target price on TORM from $37.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Fearnley Fonds upgraded TORM to a "hold" rating in a research report on Friday, September 27th.

TORM Stock Performance

The stock's 50-day moving average price is $24.30 and its 200-day moving average price is $32.13. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 2.37 and a beta of 0.21. 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 Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were issued a $0.876 dividend. This represents a $3.50 annualized dividend and a yield of 19.16%. The ex-dividend date was Thursday, November 21st. TORM's dividend payout ratio (DPR) is 45.28%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Centiva Capital LP acquired a new position in shares of TORM in the third quarter worth $3,077,000. DekaBank Deutsche Girozentrale grew its holdings in shares of TORM by 1,166.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company's stock worth $1,289,000 after buying an additional 35,000 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of TORM in the third quarter valued at approximately $7,359,000. Lighthouse Investment Partners LLC boosted its position in TORM by 276.2% during the second quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company's stock worth $4,267,000 after acquiring an additional 80,793 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in TORM in the 2nd quarter worth approximately $9,619,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

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.