TORM plc (NASDAQ:TRMD - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $16.76 and last traded at $17.62, with a volume of 1042316 shares traded. The stock had previously closed at $17.37.
Analyst Upgrades and Downgrades
Separately, Jefferies Financial Group dropped their price objective on TORM from $37.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, November 14th.
Read Our Latest Report on TORM
TORM Stock Performance
The firm's fifty day moving average is $19.80 and its 200-day moving average is $25.02. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $1.79 billion, a PE ratio of 2.47 and a beta of 0.14.
TORM Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 12.59%. The ex-dividend date of this dividend is Thursday, March 20th. TORM's payout ratio is 45.28%.
Institutional Investors Weigh In On TORM
Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in TORM by 0.6% during the third quarter. Geode Capital Management LLC now owns 81,626 shares of the company's stock worth $2,791,000 after purchasing an additional 505 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company's stock worth $41,000 after purchasing an additional 516 shares during the period. Tower Research Capital LLC TRC increased its holdings in TORM by 8.6% in the fourth 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 last quarter. Quarry LP bought a new position in shares of TORM in the 3rd quarter valued at approximately $51,000. Finally, NewEdge Advisors LLC increased its position in TORM by 16.4% in the 4th quarter. NewEdge Advisors LLC now owns 11,964 shares of the company's stock worth $233,000 after buying an additional 1,685 shares during the period. 73.89% of the stock is currently owned by hedge funds and other institutional investors.
About TORM
(
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.
See Also
Before you consider TORM, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TORM wasn't on the list.
While TORM currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
