TORM plc (NASDAQ:TRMD - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $17.68, but opened at $17.14. TORM shares last traded at $16.82, with a volume of 384,680 shares trading hands.
Wall Street Analyst Weigh In
Separately, Kepler Capital Markets downgraded TORM from a "hold" rating to a "strong sell" rating in a report on Thursday.
Get Our Latest Research Report on TORM
TORM Price Performance
The business's 50 day simple moving average is $18.98 and its 200-day simple moving average is $23.11. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 2.12 and a beta of 0.14. 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 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. This represents a $2.40 annualized dividend and a yield of 14.63%. The ex-dividend date is Thursday, March 20th. TORM's payout ratio is currently 27.43%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of TRMD. Quarry LP bought a new position in TORM in the 3rd quarter valued at about $51,000. Jones Financial Companies Lllp increased its stake in shares of TORM by 49.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock valued at $114,000 after acquiring an additional 1,939 shares during the period. Thrivent Financial for Lutherans bought a new stake in TORM during the third quarter worth approximately $224,000. Tower Research Capital LLC TRC lifted its position 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 purchasing an additional 711 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in TORM by 26.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock valued at $208,000 after purchasing an additional 2,219 shares in the last quarter. 73.89% of the stock is 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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