TORM plc (NASDAQ:TRMD - Get Free Report) shares traded down 1% on Monday . The stock traded as low as $19.10 and last traded at $19.14. 752,916 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 832,007 shares. The stock had previously closed at $19.34.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on TRMD shares. Fearnley Fonds upgraded TORM to a "hold" rating in a research report on Friday, September 27th. Jefferies Financial Group reduced their price objective on shares of TORM from $37.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th.
Get Our Latest Stock Report on TORM
TORM Stock Performance
The firm has a market cap of $1.55 billion, a P/E ratio of 2.46 and a beta of 0.21. 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 firm's fifty day moving average price is $22.39 and its 200 day moving average price is $31.14.
TORM Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were issued a $0.876 dividend. This represents a $3.50 annualized dividend and a yield of 18.44%. The ex-dividend date of this dividend was Thursday, November 21st. TORM's dividend payout ratio is currently 45.28%.
Institutional Investors Weigh In On TORM
Several institutional investors have recently added to or reduced their stakes in TRMD. Marshall Wace LLP lifted its stake in shares of TORM by 860.9% during the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company's stock worth $55,441,000 after buying an additional 1,281,176 shares during the period. Two Sigma Advisers LP raised its position in TORM by 2.6% during the 3rd quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company's stock worth $43,315,000 after buying an additional 32,500 shares during the last quarter. Acadian Asset Management LLC lifted its stake in TORM by 320.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company's stock valued at $49,189,000 after acquiring an additional 964,801 shares during the period. Renaissance Technologies LLC raised its holdings in shares of TORM by 38.9% during the second 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 during the last quarter. Finally, Barclays PLC lifted its position in TORM by 65.4% during the third quarter. Barclays PLC now owns 384,308 shares of the company's stock valued at $13,140,000 after purchasing an additional 151,942 shares during the period. Institutional investors and hedge funds own 73.89% of the company's stock.
TORM Company Profile
(
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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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