TORM (NASDAQ:TRMD) Cut to “Strong Sell” at Kepler Capital Markets

Kepler Capital Markets downgraded shares of TORM (NASDAQ:TRMD) from a hold rating to a strong sell rating in a research note issued to investors on Thursday,Zacks.com reports.

TORM Stock Down 0.6 %

Shares of TRMD stock traded down $0.10 during trading hours on Thursday, reaching $16.87. The company had a trading volume of 769,958 shares, compared to its average volume of 954,701. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 2.18 and a beta of 0.14. The business has a fifty day simple moving average of $18.98 and a 200-day simple moving average of $23.24. TORM has a 12 month low of $16.58 and a 12 month high of $40.47.

TORM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 14.23%. The ex-dividend date of this dividend is Thursday, March 20th. TORM’s dividend payout ratio (DPR) is 27.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in TORM during the third quarter valued at approximately $51,000. Jones Financial Companies Lllp lifted its position in TORM by 49.5% in the 4th quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock worth $114,000 after buying an additional 1,939 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of TORM by 8.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company’s stock valued at $175,000 after buying an additional 711 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in TORM by 26.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock valued at $208,000 after acquiring an additional 2,219 shares during the period. Finally, Aristides Capital LLC purchased a new position in TORM in the 4th quarter worth approximately $216,000. Hedge funds and other institutional investors 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.