TORM (NASDAQ:TRMD) Shares Down 0.4% – Should You Sell?

TORM plc (NASDAQ:TRMD)’s stock price was down 0.4% during mid-day trading on Friday . The company traded as low as $20.69 and last traded at $21.09. Approximately 1,275,522 shares traded hands during trading, a decline of 14% from the average daily volume of 1,475,259 shares. The stock had previously closed at $21.18.

Wall Street Analyst Weigh In

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

TORM Stock Down 0.4 %

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 business has a fifty day simple moving average of $27.98 and a 200 day simple moving average of $33.83.

TORM Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a yield of 16.61%. The ex-dividend date of this dividend is Thursday, November 21st. TORM’s dividend payout ratio (DPR) is presently 45.28%.

Institutional Investors Weigh In On TORM

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale boosted its position in shares of TORM by 1,166.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock worth $1,289,000 after purchasing an additional 35,000 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of TORM in the 3rd quarter valued at $7,359,000. SG Americas Securities LLC lifted its stake in TORM by 597.3% during the 2nd quarter. SG Americas Securities LLC now owns 22,914 shares of the company’s stock worth $888,000 after acquiring an additional 19,628 shares in the last quarter. Lighthouse Investment Partners LLC lifted its stake in TORM by 276.2% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company’s stock worth $4,267,000 after acquiring an additional 80,793 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in TORM during the 2nd quarter valued at about $9,619,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

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.