TORM (NASDAQ:TRMD) Trading Down 0.6% - Time to Sell?

TORM plc (NASDAQ:TRMD - Get Free Report)'s stock price fell 0.6% during mid-day trading on Wednesday . The company traded as low as $20.69 and last traded at $21.06. 558,647 shares were traded during trading, a decline of 30% from the average session volume of 801,366 shares. The stock had previously closed at $21.18.

Analyst Upgrades and Downgrades

Several brokerages have commented on TRMD. Fearnley Fonds upgraded TORM to a "hold" rating in a research note on Friday, September 27th. Jefferies Financial Group lowered their target price on shares of TORM from $37.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th.

TORM Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The stock has a market cap of $1.72 billion, a P/E ratio of 2.73 and a beta of 0.27. The stock has a 50-day moving average price of $28.59 and a 200-day moving average price of $34.01.

TORM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be paid a $0.876 dividend. 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 is presently 45.28%.

Institutional Investors Weigh In On TORM

Several hedge funds have recently bought and sold shares of the business. National Bank of Canada FI purchased a new stake in shares of TORM in the 2nd quarter worth approximately $26,000. Assetmark Inc. grew its stake in shares of TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company's stock worth $41,000 after acquiring an additional 516 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of TORM during the second quarter valued at $43,000. Syquant Capital Sas purchased a new position in shares of TORM in the 2nd quarter worth about $46,000. Finally, Quarry LP bought a new position in TORM in the 3rd quarter worth about $51,000. Institutional investors own 73.89% of the company's stock.

About TORM

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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