TORM (NASDAQ:TRMD) Sets New 12-Month Low - Should You Sell?

TORM plc (NASDAQ:TRMD - Get Free Report)'s share price reached a new 52-week low on Friday . The stock traded as low as $16.73 and last traded at $16.97, with a volume of 1223004 shares traded. The stock had previously closed at $17.68.

Wall Street Analyst Weigh In

Separately, Kepler Capital Markets cut TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th.

TORM Price Performance

The firm has a market capitalization of $1.55 billion, a PE ratio of 2.12 and a beta of 0.14. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The firm's fifty day simple moving average is $18.90 and its 200-day simple moving average is $22.98.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.40 annualized dividend and a yield of 14.58%. TORM's dividend payout ratio is 27.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its holdings in TORM by 94.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company's stock worth $84,585,000 after buying an additional 2,115,672 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of TORM by 22.4% during the fourth quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company's stock valued at $36,417,000 after purchasing an additional 345,463 shares during the last quarter. Two Sigma Advisers LP lifted its position in TORM by 2.6% during the third quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company's stock valued at $43,315,000 after purchasing an additional 32,500 shares during the period. Norges Bank bought a new position in TORM during the fourth quarter valued at approximately $21,273,000. Finally, Renaissance Technologies LLC grew its position in TORM by 24.3% in the 4th quarter. Renaissance Technologies LLC now owns 561,889 shares of the company's stock worth $10,929,000 after purchasing an additional 109,916 shares during the period. 73.89% of the stock is owned by institutional investors.

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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.