TORM (NASDAQ:TRMD) Stock Price Down 1.7% – What’s Next?

TORM plc (NASDAQ:TRMD)’s stock price fell 1.7% during mid-day trading on Thursday . The stock traded as low as $19.24 and last traded at $19.33. 239,814 shares were traded during mid-day trading, a decline of 71% from the average session volume of 828,360 shares. The stock had previously closed at $19.66.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Jefferies Financial Group cut their price target on shares of TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Fearnley Fonds upgraded TORM to a “hold” rating in a research note on Friday, September 27th.

TORM Stock Performance

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’s fifty day moving average price is $22.39 and its two-hundred day moving average price is $31.20. The stock has a market capitalization of $1.58 billion, a PE ratio of 2.50 and a beta of 0.21.

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 issued a $0.876 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a yield of 18.12%. TORM’s payout ratio is 45.28%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TRMD. Marshall Wace LLP increased its stake in shares of TORM by 860.9% in the 2nd quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock valued at $55,441,000 after purchasing an additional 1,281,176 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of TORM by 320.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock worth $49,189,000 after buying an additional 964,801 shares during the period. Hsbc Holdings PLC purchased a new position in shares of TORM during the 2nd quarter valued at approximately $9,619,000. International Assets Investment Management LLC acquired a new stake in TORM in the 3rd quarter valued at $7,359,000. Finally, Renaissance Technologies LLC increased its holdings in TORM by 38.9% in the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock worth $25,945,000 after acquiring an additional 187,300 shares in the last quarter. Institutional investors and hedge funds 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.