TORM (NASDAQ:TRMD) Trading Down 2.7% – Should You Sell?

Shares of TORM plc (NASDAQ:TRMD) traded down 2.7% on Wednesday . The company traded as low as $21.98 and last traded at $22.05. 829,908 shares were traded during trading, a decline of 41% from the average session volume of 1,409,575 shares. The stock had previously closed at $22.67.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TRMD. Fearnley Fonds upgraded TORM to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group reduced their price target on TORM from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

TORM Trading Down 2.7 %

The firm’s 50 day moving average price is $20.83 and its 200-day moving average price is $29.72. 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 stock has a market cap of $1.66 billion, a P/E ratio of 2.64 and a beta of 0.23.

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. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.50 annualized dividend and a yield of 17.18%. TORM’s dividend payout ratio is 45.28%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Centiva Capital LP purchased a new position in TORM in the 3rd quarter worth about $3,077,000. DekaBank Deutsche Girozentrale grew its stake in shares of TORM by 1,166.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock worth $1,289,000 after acquiring an additional 35,000 shares during the period. International Assets Investment Management LLC bought a new position in TORM during the third quarter valued at approximately $7,359,000. Franklin Resources Inc. purchased a new stake in TORM in the third quarter worth approximately $1,047,000. Finally, PSI Advisors LLC grew its position in TORM by 139.8% in the 4th quarter. PSI Advisors LLC now owns 42,367 shares of the company’s stock worth $824,000 after purchasing an additional 24,702 shares during the period. 73.89% of the stock is owned by institutional investors.

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.