TORM plc (NASDAQ:TRMD - Get Free Report)'s stock price was up 2.8% during mid-day trading on Tuesday . The company traded as high as $19.61 and last traded at $19.59. Approximately 323,806 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 828,374 shares. The stock had previously closed at $19.06.
Analyst Ratings Changes
Several research firms have weighed in on TRMD. Fearnley Fonds upgraded TORM to a "hold" rating in a research note on Friday, September 27th. Jefferies Financial Group dropped their price objective on TORM from $37.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, November 14th.
Check Out Our Latest Stock Report on TORM
TORM Stock Performance
The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 2.54 and a beta of 0.21. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The stock's 50-day moving average is $23.23 and its 200-day moving average is $31.62.
TORM Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were issued 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 17.82%. TORM's dividend payout ratio (DPR) is presently 45.28%.
Institutional Investors Weigh In On TORM
Several hedge funds have recently modified their holdings of TRMD. Centiva Capital LP acquired a new position in TORM in the 3rd quarter worth about $3,077,000. DekaBank Deutsche Girozentrale increased 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 buying an additional 35,000 shares during the period. International Assets Investment Management LLC bought a new position in TORM in the 3rd quarter valued at approximately $7,359,000. Lighthouse Investment Partners LLC boosted its position in TORM by 276.2% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company's stock worth $4,267,000 after buying an additional 80,793 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in TORM during the 2nd quarter worth approximately $9,619,000. Institutional investors and hedge funds 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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