TORM plc (NASDAQ:TRMD - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $20.98, but opened at $21.86. TORM shares last traded at $22.11, with a volume of 630,276 shares trading hands.
Analyst Upgrades and Downgrades
A number of research analysts have commented on TRMD shares. Fearnley Fonds raised TORM to a "hold" rating in a research report on Friday, September 27th. Jefferies Financial Group cut their price objective on shares of TORM from $37.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, November 14th.
Check Out Our Latest Analysis on TORM
TORM Trading Up 5.7 %
The firm has a market capitalization of $1.81 billion, a P/E ratio of 2.87 and a beta of 0.23. The stock's 50-day simple moving average is $21.05 and its two-hundred day simple moving average is $30.16. 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 declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were paid a $0.876 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.50 annualized dividend and a yield of 15.80%. TORM's payout ratio is 45.28%.
Hedge Funds Weigh In On TORM
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Centiva Capital LP purchased a new stake in TORM during the 3rd quarter valued at $3,077,000. DekaBank Deutsche Girozentrale raised its stake in shares of TORM by 1,166.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company's stock valued at $1,289,000 after acquiring an additional 35,000 shares during the period. International Assets Investment Management LLC purchased a new position in shares of TORM during the 3rd quarter worth about $7,359,000. Franklin Resources Inc. bought a new position in TORM during the 3rd quarter valued at about $1,047,000. Finally, Lighthouse Investment Partners LLC grew its holdings in TORM by 276.2% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company's stock valued at $4,267,000 after purchasing an additional 80,793 shares during the last quarter. 73.89% of the stock is owned by institutional investors.
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.
Further Reading
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
Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
