Shares of TORM plc (NASDAQ:TRMD - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.09 and last traded at $16.35, with a volume of 898125 shares traded. The stock had previously closed at $16.45.
Analysts Set New Price Targets
Separately, Kepler Capital Markets downgraded shares of TORM from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 27th.
Check Out Our Latest Analysis on TORM
TORM Stock Up 6.3 %
The firm has a 50-day simple moving average of $18.49 and a 200 day simple moving average of $22.27. The stock has a market capitalization of $1.40 billion, a P/E ratio of 1.92 and a beta of 0.20. 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 announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Thursday, March 20th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.40 annualized dividend and a yield of 16.16%. TORM's dividend payout ratio is presently 27.43%.
Hedge Funds Weigh In On TORM
Several institutional investors and hedge funds have recently added to or reduced their stakes in TRMD. Quarry LP acquired a new position in shares of TORM during the third quarter worth $51,000. Jones Financial Companies Lllp lifted its holdings in TORM by 49.5% during the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock worth $114,000 after buying an additional 1,939 shares during the period. Tower Research Capital LLC TRC lifted its holdings in TORM by 8.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock worth $175,000 after buying an additional 711 shares during the period. Apollon Wealth Management LLC grew its position in shares of TORM by 26.1% in the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock valued at $208,000 after buying an additional 2,219 shares during the last quarter. Finally, Aristides Capital LLC acquired a new stake in shares of TORM in the fourth quarter valued at about $216,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.
TORM Company Profile
(
Get 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.
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