TORM plc (NASDAQ:TRMD - Get Free Report) was down 3.6% during mid-day trading on Thursday . The stock traded as low as $18.64 and last traded at $18.83. Approximately 154,927 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 934,939 shares. The stock had previously closed at $19.52.
TORM Stock Performance
The company's fifty day simple moving average is $19.41 and its 200 day simple moving average is $23.65. The stock has a market capitalization of $1.74 billion, a P/E ratio of 2.39 and a beta of 0.14. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 12.99%. The ex-dividend date of this dividend is Thursday, March 20th. TORM's payout ratio is 27.43%.
Hedge Funds Weigh In On TORM
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its position in shares of TORM by 225.7% during the 4th quarter. Mackenzie Financial Corp now owns 36,177 shares of the company's stock valued at $704,000 after buying an additional 25,071 shares in the last quarter. Millennium Management LLC raised its position in TORM by 439.0% during the fourth quarter. Millennium Management LLC now owns 430,399 shares of the company's stock valued at $8,371,000 after purchasing an additional 350,555 shares in the last quarter. Deutsche Bank AG raised its position in TORM by 14.2% during the fourth quarter. Deutsche Bank AG now owns 88,381 shares of the company's stock valued at $1,719,000 after purchasing an additional 10,970 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of TORM by 104.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 32,071 shares of the company's stock worth $624,000 after purchasing an additional 16,360 shares in the last quarter. Finally, Bridgefront Capital LLC bought a new position in shares of TORM during the 4th quarter valued at about $270,000. 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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