TORM (NASDAQ:TRMD) Stock Price Down 2.7% - Should You Sell?

TORM plc (NASDAQ:TRMD - Get Free Report)'s share price fell 2.7% on Wednesday . The stock traded as low as $21.98 and last traded at $22.05. 829,908 shares traded hands during trading, a decline of 41% from the average session volume of 1,409,575 shares. The stock had previously closed at $22.67.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of TORM from $37.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. Fearnley Fonds upgraded TORM to a "hold" rating in a research note on Friday, September 27th.

TORM Price Performance

The company has a market cap of $1.82 billion, a price-to-earnings ratio of 2.89 and a beta of 0.23. 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 company's 50 day moving average price is $20.95 and its 200 day moving average price is $29.83.

TORM Cuts Dividend

The company also recently disclosed 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 of this dividend was Thursday, November 21st. This represents a $3.50 annualized dividend and a yield of 15.68%. TORM's dividend payout ratio is 45.28%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D acquired a new stake in TORM during the 2nd quarter valued at $1,658,000. Renaissance Technologies LLC increased its stake in shares of TORM by 38.9% in the second quarter. Renaissance Technologies LLC now owns 669,200 shares of the company's stock valued at $25,945,000 after buying an additional 187,300 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of TORM by 7.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company's stock valued at $433,000 after buying an additional 811 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of TORM in the second quarter valued at about $9,619,000. Finally, XTX Topco Ltd lifted its position in TORM by 24.6% during the 2nd quarter. XTX Topco Ltd now owns 10,926 shares of the company's stock worth $424,000 after buying an additional 2,159 shares in the last quarter. Institutional investors own 73.89% of the company's stock.

TORM Company Profile

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.