TORM (NASDAQ:TRMD) Shares Up 3.2% – What’s Next?

TORM plc (NASDAQ:TRMD) shares were up 3.2% on Monday . The company traded as high as $18.80 and last traded at $18.65. Approximately 456,307 shares changed hands during trading, a decline of 45% from the average daily volume of 827,589 shares. The stock had previously closed at $18.08.

Analyst Ratings Changes

Several research analysts recently issued reports on TRMD shares. Jefferies Financial Group cut their price objective on TORM from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Fearnley Fonds raised TORM to a “hold” rating in a report on Friday, September 27th.

TORM Trading Up 3.1 %

The business’s fifty day moving average price is $23.03 and its 200 day moving average price is $31.50. 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 firm has a market capitalization of $1.60 billion, a PE ratio of 2.54 and a beta of 0.21.

TORM Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were paid a $0.876 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.50 annualized dividend and a yield of 17.82%. TORM’s payout ratio is currently 45.28%.

Institutional Investors Weigh In On TORM

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in TORM by 0.6% in the third quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock valued at $2,791,000 after purchasing an additional 505 shares during the last quarter. Assetmark Inc. increased its stake 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 acquired a new position in shares of TORM during the 2nd quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of TORM by 7.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock worth $433,000 after acquiring an additional 811 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of TORM by 12.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,338 shares of the company’s stock worth $365,000 after acquiring an additional 1,030 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.