TORM (NASDAQ:TRMD) Stock Price Up 2.4% - Time to Buy?

TORM plc (NASDAQ:TRMD - Get Free Report)'s stock price traded up 2.4% during mid-day trading on Monday . The company traded as high as $14.45 and last traded at $14.31. 467,373 shares were traded during trading, a decline of 51% from the average session volume of 963,082 shares. The stock had previously closed at $13.97.

Analysts Set New Price Targets

Separately, Kepler Capital Markets lowered shares of TORM from a "hold" rating to a "strong sell" rating in a report on Thursday, March 27th.

TORM Stock Performance

The company has a market cap of $1.49 billion, a price-to-earnings ratio of 2.05 and a beta of 0.20. The firm's 50 day simple moving average is $17.92 and its 200-day simple moving average is $21.63. 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 was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 15.13%. The ex-dividend date of this dividend was Thursday, March 20th. TORM's dividend payout ratio (DPR) is 27.43%.

Institutional Trading of TORM

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of TORM by 0.6% in the third quarter. Geode Capital Management LLC now owns 81,626 shares of the company's stock valued at $2,791,000 after purchasing an additional 505 shares during the period. Tower Research Capital LLC TRC boosted its holdings in TORM by 8.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company's stock valued at $175,000 after purchasing an additional 711 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of TORM by 16.4% in the 4th quarter. NewEdge Advisors LLC now owns 11,964 shares of the company's stock valued at $233,000 after buying an additional 1,685 shares during the period. Jones Financial Companies Lllp raised its position in shares of TORM by 49.5% during the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company's stock valued at $114,000 after buying an additional 1,939 shares during the period. Finally, Apollon Wealth Management LLC lifted its holdings in TORM by 26.1% in the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company's stock valued at $208,000 after acquiring an additional 2,219 shares during the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

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About TORM

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.