TORM plc (NASDAQ:TRMD - Get Free Report)'s share price traded down 0.4% during mid-day trading on Thursday . The company traded as low as $20.69 and last traded at $21.09. 1,275,522 shares traded hands during mid-day trading, an increase of 59% from the average session volume of 804,719 shares. The stock had previously closed at $21.18.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Fearnley Fonds raised shares of TORM to a "hold" rating in a research note on Friday, September 27th. Jefferies Financial Group dropped their price objective on TORM from $37.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, November 14th.
Check Out Our Latest Research Report on TRMD
TORM Stock Down 0.4 %
The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $27.98 and a two-hundred day moving average price of $33.83. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 2.73 and a beta of 0.27.
TORM Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be given a dividend of $0.876 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a yield of 16.61%. TORM's dividend payout ratio (DPR) is 45.28%.
Institutional Investors Weigh In On TORM
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in TORM by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company's stock valued at $41,221,000 after purchasing an additional 85,937 shares in the last quarter. Virtu Financial LLC bought a new stake in TORM in the first quarter valued at about $598,000. DekaBank Deutsche Girozentrale lifted its holdings in TORM by 11.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 58,000 shares of the company's stock worth $1,971,000 after buying an additional 5,933 shares during the last quarter. Syquant Capital Sas acquired a new position in shares of TORM in the 2nd quarter worth approximately $46,000. Finally, Lion Street Advisors LLC acquired a new position in shares of TORM in the 2nd quarter worth approximately $216,000. Institutional investors and hedge funds 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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