TORM (NASDAQ:TRMD) Trading Up 1.8% – Still a Buy?

TORM plc (NASDAQ:TRMD) shares rose 1.8% on Tuesday . The company traded as high as $23.89 and last traded at $23.85. Approximately 374,200 shares changed hands during trading, a decline of 52% from the average daily volume of 779,436 shares. The stock had previously closed at $23.43.

Analyst Ratings Changes

TRMD has been the subject of a number of analyst reports. Jefferies Financial Group cut 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. Fearnley Fonds upgraded TORM to a “hold” rating in a report on Friday, September 27th.

TORM Stock Down 0.7 %

The business has a 50 day moving average price of $29.65 and a 200-day moving average price of $34.41. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be issued a dividend of $0.876 per share. This represents a $3.50 dividend on an annualized basis and a yield of 14.72%. The ex-dividend date of this dividend is Thursday, November 21st. TORM’s payout ratio is 68.05%.

Institutional Trading of TORM

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of TORM by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock valued at $2,791,000 after buying an additional 505 shares during the last quarter. Barclays PLC raised its stake in TORM by 65.4% during the third 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 period. XTX Topco Ltd raised its position in shares of TORM by 120.3% during the 3rd quarter. XTX Topco Ltd now owns 24,070 shares of the company’s stock worth $823,000 after purchasing an additional 13,144 shares during the period. Weiss Asset Management LP acquired a new stake in TORM in the third quarter worth approximately $1,026,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of TORM by 2.6% in the third quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company’s stock valued at $43,315,000 after buying an additional 32,500 shares during the period. 73.89% of the stock is owned by hedge funds and other 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.