TORM plc (NASDAQ:TRMD - Get Free Report)'s share price traded down 2.5% during mid-day trading on Friday . The company traded as low as $20.05 and last traded at $20.09. 589,963 shares were traded during trading, a decline of 43% from the average session volume of 1,040,155 shares. The stock had previously closed at $20.61.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on TRMD shares. Fearnley Fonds raised TORM to a "hold" rating in a report on Friday, September 27th. Jefferies Financial Group reduced their price target on shares of TORM from $37.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, November 14th.
Check Out Our Latest Stock Report on TRMD
TORM Stock Performance
The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.64 billion, a PE ratio of 2.60 and a beta of 0.21. The firm has a 50 day moving average price of $21.70 and a 200 day moving average price of $30.78.
TORM Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were given a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a yield of 17.43%. The ex-dividend date of this dividend was Thursday, November 21st. TORM's dividend payout ratio is currently 45.28%.
Hedge Funds Weigh In On TORM
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new stake in TORM in the 2nd quarter valued at $26,000. Assetmark Inc. grew its position in shares of TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company's stock valued at $41,000 after purchasing an additional 516 shares during the period. Quarry LP purchased a new stake in shares of TORM during the third quarter worth about $51,000. Point72 Hong Kong Ltd acquired a new position in shares of TORM during the 2nd quarter worth about $78,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in TORM in the 2nd quarter valued at about $116,000. Hedge funds and other institutional investors own 73.89% of the company's stock.
TORM Company Profile
(
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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