TORM (NASDAQ:TRMD) Trading Down 1.2% – Should You Sell?

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

Analyst Ratings Changes

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

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 stock has a market capitalization of $1.47 billion, a P/E ratio of 2.34 and a beta of 0.21. The company’s 50-day moving average is $23.48 and its two-hundred day moving average is $31.80.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a yield of 19.38%. The ex-dividend date of this dividend was Thursday, November 21st. TORM’s payout ratio is currently 45.28%.

Hedge Funds Weigh In On TORM

Several large investors have recently bought and sold shares of the stock. Marshall Wace LLP boosted its holdings in shares of TORM by 860.9% in the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock valued at $55,441,000 after acquiring an additional 1,281,176 shares in the last quarter. Two Sigma Advisers LP grew its position in TORM by 2.6% in the third quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company’s stock worth $43,315,000 after buying an additional 32,500 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of TORM by 320.5% in the second quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock valued at $49,189,000 after buying an additional 964,801 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of TORM by 38.9% during the 2nd quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock valued at $25,945,000 after acquiring an additional 187,300 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of TORM by 65.4% in the 3rd quarter. Barclays PLC now owns 384,308 shares of the company’s stock worth $13,140,000 after acquiring an additional 151,942 shares during the last quarter. Institutional investors and hedge funds 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.