TORM plc (NASDAQ:TRMD - Get Free Report) shares traded up 2.4% during trading on Wednesday . The stock traded as high as $19.55 and last traded at $19.45. 821,479 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 836,479 shares. The stock had previously closed at $19.00.
Wall Street Analysts Forecast Growth
TRMD has been the subject of several recent analyst reports. Jefferies Financial Group cut their price target 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. Fearnley Fonds upgraded shares of TORM to a "hold" rating in a research report on Friday, September 27th.
Check Out Our Latest Stock Analysis on TRMD
TORM Trading Up 2.4 %
The firm has a market capitalization of $1.59 billion, a PE ratio of 2.52 and a beta of 0.21. The business has a fifty day moving average price of $21.82 and a two-hundred day moving average price of $30.85. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51.
TORM Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were issued a dividend of $0.876 per share. This represents a $3.50 dividend on an annualized basis and a yield of 18.02%. The ex-dividend date of this dividend was Thursday, November 21st. TORM's dividend payout ratio (DPR) is 45.28%.
Hedge Funds Weigh In On TORM
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its holdings in shares of TORM by 860.9% in the 2nd quarter. Marshall Wace LLP now owns 1,429,989 shares of the company's stock valued at $55,441,000 after purchasing an additional 1,281,176 shares in the last quarter. Acadian Asset Management LLC increased its holdings in TORM by 320.5% in the second quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company's stock valued at $49,189,000 after buying an additional 964,801 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in TORM in the second quarter valued at $9,619,000. International Assets Investment Management LLC acquired a new position in shares of TORM during the 3rd quarter worth about $7,359,000. Finally, Renaissance Technologies LLC increased its holdings in shares of TORM by 38.9% in the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company's stock valued at $25,945,000 after acquiring an additional 187,300 shares during the last quarter. Hedge funds and other institutional investors own 73.89% of the company's stock.
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.
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