TORM plc (NASDAQ:TRMD - Get Free Report)'s stock price traded up 0.2% during trading on Friday . The company traded as high as $19.56 and last traded at $19.42. 380,727 shares changed hands during trading, a decline of 54% from the average session volume of 829,429 shares. The stock had previously closed at $19.38.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on TRMD shares. Jefferies Financial Group cut their price target 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 raised TORM to a "hold" rating in a research note on Friday, September 27th.
Get Our Latest Research Report on TORM
TORM Price Performance
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 capitalization of $1.58 billion, a PE ratio of 2.50 and a beta of 0.21. The stock's 50 day moving average is $22.39 and its two-hundred day moving average is $31.20.
TORM Cuts Dividend
The company 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. The ex-dividend date was Thursday, November 21st. This represents a $3.50 annualized dividend and a dividend yield of 18.12%. TORM's dividend payout ratio (DPR) is presently 45.28%.
Institutional Trading of TORM
Several large investors have recently made changes to their positions in TRMD. National Bank of Canada FI acquired a new stake in TORM in the 2nd quarter valued at about $26,000. Assetmark Inc. increased its holdings in shares of TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company's stock valued at $41,000 after purchasing an additional 516 shares during the last quarter. Quarry LP purchased a new position in TORM during the third quarter worth approximately $51,000. Point72 Hong Kong Ltd acquired a new position in TORM during the second quarter worth $78,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in TORM in the 2nd quarter valued at $116,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.
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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