Shares of TORM plc (NASDAQ:TRMD - Get Free Report) rose 1.5% during mid-day trading on Tuesday . The company traded as high as $19.35 and last traded at $19.29. Approximately 271,065 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 833,963 shares. The stock had previously closed at $19.00.
Analysts Set New Price Targets
TRMD has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their target price on TORM from $37.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. Fearnley Fonds upgraded shares of TORM to a "hold" rating in a report on Friday, September 27th.
Get Our Latest Research Report on TORM
TORM Trading Up 2.4 %
The company has a market cap of $1.59 billion, a P/E ratio of 2.52 and a beta of 0.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The stock's 50-day moving average is $21.98 and its two-hundred day moving average is $30.93.
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 paid a dividend of $0.876 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 18.02%. TORM's dividend payout ratio is currently 45.28%.
Institutional Trading of TORM
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centiva Capital LP purchased a new stake in shares of TORM in the third quarter worth $3,077,000. DekaBank Deutsche Girozentrale grew its holdings in TORM by 1,166.7% during the 3rd 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 in the last quarter. International Assets Investment Management LLC purchased a new stake in TORM during the 3rd quarter valued at approximately $7,359,000. Lighthouse Investment Partners LLC raised its position in shares of TORM by 276.2% during the second quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company's stock valued at $4,267,000 after buying an additional 80,793 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of TORM in the second quarter worth $9,619,000. 73.89% of the stock is owned by hedge funds and other institutional investors.
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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