TORM (NASDAQ:TRMD) Trading Up 0.2% – What’s Next?

TORM plc (NASDAQ:TRMD)’s stock price traded up 0.2% during mid-day trading on Friday . The company traded as high as $19.56 and last traded at $19.42. 380,727 shares traded hands during trading, a decline of 54% from the average session volume of 829,429 shares. The stock had previously closed at $19.38.

Analyst Ratings Changes

TRMD has been the subject of several analyst reports. Jefferies Financial Group reduced their target price on shares of TORM from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Fearnley Fonds raised shares of TORM to a “hold” rating in a research note on Friday, September 27th.

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 business has a 50 day moving average price of $22.61 and a two-hundred day moving average price of $31.33. The stock has a market cap of $1.57 billion, a P/E ratio of 2.50 and a beta of 0.21.

TORM Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were given a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a dividend yield of 18.16%. The ex-dividend date was Thursday, November 21st. TORM’s payout ratio is currently 45.28%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in shares of TORM by 0.6% in the third quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock worth $2,791,000 after buying an additional 505 shares in the last quarter. Assetmark Inc. boosted its position in shares of TORM by 76.9% during the 3rd quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after acquiring an additional 516 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of TORM in the second quarter valued at $26,000. Vanguard Personalized Indexing Management LLC increased its position in TORM by 7.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock worth $433,000 after purchasing an additional 811 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TORM by 12.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,338 shares of the company’s stock valued at $365,000 after purchasing an additional 1,030 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.