TORM (NASDAQ:TRMD) Hits New 52-Week Low - Time to Sell?

TORM plc (NASDAQ:TRMD - Get Free Report) shares hit a new 52-week low on Wednesday . The company traded as low as $19.36 and last traded at $19.39, with a volume of 602966 shares changing hands. The stock had previously closed at $19.84.

Analysts Set New Price Targets

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

TORM Price Performance

The firm has a fifty day moving average of $25.70 and a two-hundred day moving average of $32.79. The stock has a market capitalization of $1.57 billion, a P/E ratio of 2.57 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were paid a $0.876 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 18.16%. The ex-dividend date was Thursday, November 21st. TORM's dividend payout ratio (DPR) is 45.28%.

Institutional Trading of TORM

Several hedge funds and other institutional investors have recently bought and sold shares of TRMD. Marshall Wace LLP grew its stake in TORM by 860.9% in the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company's stock valued at $55,441,000 after purchasing an additional 1,281,176 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of TORM by 320.5% during the second quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company's stock worth $49,189,000 after purchasing an additional 964,801 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of TORM during the 2nd quarter valued at $9,619,000. International Assets Investment Management LLC acquired a new stake in shares of TORM in the 3rd quarter worth $7,359,000. Finally, Renaissance Technologies LLC grew its stake in shares of TORM by 38.9% during the second quarter. Renaissance Technologies LLC now owns 669,200 shares of the company's stock worth $25,945,000 after acquiring an additional 187,300 shares during the last quarter. Institutional investors 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.

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