TORM (NASDAQ:TRMD) Trading 3.2% Higher - Still a Buy?

TORM plc (NASDAQ:TRMD - Get Free Report)'s share price traded up 3.2% during trading on Monday . The stock traded as high as $18.80 and last traded at $18.65. 456,307 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 827,589 shares. The stock had previously closed at $18.08.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TRMD. Fearnley Fonds raised TORM to a "hold" rating in a research report on Friday, September 27th. Jefferies Financial Group cut their price objective on TORM from $37.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, November 14th.

TORM Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The stock's 50-day simple moving average is $23.48 and its two-hundred day simple moving average is $31.74. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 2.47 and a beta of 0.21.

TORM Cuts Dividend

The business 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. This represents a $3.50 dividend on an annualized basis and a dividend yield of 18.38%. The ex-dividend date was Thursday, November 21st. TORM's dividend payout ratio is currently 45.28%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP grew its stake 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 during the period. Two Sigma Advisers LP boosted its stake in shares of TORM by 2.6% in the 3rd quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company's stock valued at $43,315,000 after purchasing an additional 32,500 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of TORM by 320.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company's stock worth $49,189,000 after purchasing an additional 964,801 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of TORM by 38.9% during the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company's stock worth $25,945,000 after purchasing an additional 187,300 shares in the last quarter. Finally, Barclays PLC boosted its position in TORM by 65.4% in the third quarter. Barclays PLC now owns 384,308 shares of the company's stock valued at $13,140,000 after buying an additional 151,942 shares in the last quarter. 73.89% of the stock is owned by institutional investors.

TORM Company Profile

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.