TORM (NASDAQ:TRMD) Shares Down 1.2% – What’s Next?

Shares of TORM plc (NASDAQ:TRMD) traded down 1.2% during trading on Thursday . The company traded as low as $18.10 and last traded at $18.22. 361,991 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 824,035 shares. The stock had previously closed at $18.44.

Analysts Set New Price Targets

A number of analysts recently weighed in on TRMD shares. Fearnley Fonds raised shares of TORM to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group decreased their price objective 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.

TORM Stock Performance

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 capitalization of $1.46 billion, a price-to-earnings ratio of 2.32 and a beta of 0.21. The company has a 50-day moving average price of $24.03 and a 200-day moving average price of $32.03.

TORM Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were issued a $0.876 dividend. This represents a $3.50 annualized dividend and a yield of 19.51%. The ex-dividend date of this dividend was Thursday, November 21st. TORM’s payout ratio is currently 45.28%.

Institutional Trading of TORM

Hedge funds and other institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI bought a new position in TORM during the 2nd quarter valued at $26,000. Assetmark Inc. boosted its stake in TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after buying an additional 516 shares in the last quarter. Fifth Third Bancorp acquired a new position in TORM during the second quarter worth about $43,000. Quarry LP bought a new stake in TORM in the third quarter worth about $51,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of TORM during the 2nd quarter valued at about $78,000. 73.89% of the stock is currently owned by institutional investors.

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.