TORM plc (NASDAQ:TRMD - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $19.45, but opened at $20.23. TORM shares last traded at $20.44, with a volume of 433,555 shares trading hands.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on TRMD shares. Fearnley Fonds raised shares of TORM to a "hold" rating in a report on Friday, September 27th. Jefferies Financial Group decreased their price objective on shares of TORM from $37.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, November 14th.
Read Our Latest Stock Report on TRMD
TORM Stock Performance
The company has a fifty day moving average price of $21.82 and a two-hundred day moving average price of $30.85. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 2.67 and a beta of 0.21. 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 disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were given a dividend of $0.876 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.50 annualized dividend and a dividend yield of 17.00%. TORM's dividend payout ratio (DPR) is 45.28%.
Institutional Trading of TORM
Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI bought a new position in shares of TORM in the second quarter valued at $26,000. Assetmark Inc. lifted 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 valued at $41,000 after purchasing an additional 516 shares during the last quarter. Quarry LP acquired a new position in shares of TORM in the 3rd quarter valued at $51,000. Point72 Hong Kong Ltd purchased a new position in TORM in the 2nd quarter worth about $78,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in TORM during the 2nd quarter worth about $116,000. 73.89% of the stock is currently 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.
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