TORM (NASDAQ:TRMD) Trading Up 6.1% – Should You Buy?

Shares of TORM plc (NASDAQ:TRMD) were up 6.1% during mid-day trading on Thursday . The stock traded as high as $20.69 and last traded at $20.63. Approximately 603,773 shares were traded during trading, a decline of 28% from the average daily volume of 836,479 shares. The stock had previously closed at $19.45.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TRMD. Jefferies Financial Group lowered their target price on 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 shares of TORM to a “hold” rating in a report on Friday, September 27th.

TORM Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The firm has a market capitalization of $1.64 billion, a P/E ratio of 2.60 and a beta of 0.21. The firm has a 50 day moving average price of $21.55 and a two-hundred day moving average price of $30.68.

TORM Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were given a $0.876 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 17.43%. TORM’s dividend payout ratio (DPR) is 45.28%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TRMD. National Bank of Canada FI acquired a new position in TORM in the 2nd quarter worth approximately $26,000. Assetmark Inc. lifted its holdings in shares of TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after purchasing an additional 516 shares in the last quarter. Quarry LP acquired a new stake in shares of TORM in the third quarter worth $51,000. Point72 Hong Kong Ltd purchased a new position in shares of TORM during the second quarter valued at $78,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in TORM during the second quarter valued at $116,000. 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.