TORM plc (NASDAQ:TRMD - Get Free Report) shares were up 6.1% on Thursday . The company traded as high as $20.69 and last traded at $20.63. Approximately 603,773 shares were traded during trading, a decline of 28% from the average daily volume of 836,479 shares. The stock had previously closed at $19.45.
Analyst Ratings Changes
A number of equities analysts have commented on TRMD shares. Fearnley Fonds upgraded shares of TORM to a "hold" rating in a report on Friday, September 27th. Jefferies Financial Group cut their price target on TORM from $37.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th.
Read Our Latest Research Report on TRMD
TORM Trading Up 6.0 %
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 firm has a market cap of $1.68 billion, a P/E ratio of 2.67 and a beta of 0.21. The business's 50 day moving average is $21.82 and its 200-day moving average is $30.85.
TORM Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were given a $0.876 dividend. This represents a $3.50 annualized dividend and a dividend yield of 17.00%. The ex-dividend date was Thursday, November 21st. TORM's payout ratio is currently 45.28%.
Hedge Funds Weigh In On TORM
A number of hedge funds have recently bought and sold shares of TRMD. Franklin Resources Inc. acquired a new stake in shares of TORM during the 3rd quarter valued at approximately $1,047,000. Tidal Investments LLC acquired a new stake in shares of TORM during the third quarter worth $1,601,000. Geode Capital Management LLC lifted its position in shares of TORM by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company's stock worth $2,791,000 after buying an additional 505 shares during the last quarter. Barclays PLC boosted its holdings in shares of TORM by 65.4% in the 3rd 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 during the period. Finally, XTX Topco Ltd grew its position in shares of TORM by 120.3% during the 3rd quarter. XTX Topco Ltd now owns 24,070 shares of the company's stock valued at $823,000 after buying an additional 13,144 shares during the last quarter. 73.89% of the stock is currently owned by institutional investors and hedge funds.
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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