TORM (NASDAQ:TRMD) Trading Down 1.7% – Time to Sell?

TORM plc (NASDAQ:TRMD) fell 1.7% on Thursday . The stock traded as low as $19.24 and last traded at $19.33. 239,814 shares were traded during trading, a decline of 71% from the average session volume of 828,360 shares. The stock had previously closed at $19.66.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Fearnley Fonds upgraded TORM to a “hold” rating in a report on Friday, September 27th.

TORM Stock Performance

The company has a market cap of $1.57 billion, a price-to-earnings ratio of 2.50 and a beta of 0.21. 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 stock’s fifty day simple moving average is $22.82 and its two-hundred day simple moving average is $31.41.

TORM Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.876 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 18.16%. The ex-dividend date was Thursday, November 21st. TORM’s payout ratio is currently 45.28%.

Institutional Trading of TORM

A number of institutional investors have recently added to or reduced their stakes in TRMD. Bank of New York Mellon Corp grew its stake in shares of TORM by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 355,151 shares of the company’s stock valued at $13,769,000 after acquiring an additional 8,185 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in TORM in the second quarter valued at $116,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in TORM by 12.4% during the 2nd 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 in the last quarter. Wealth Alliance Advisory Group LLC bought a new stake in shares of TORM in the 2nd quarter worth about $202,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of TORM in the 2nd quarter valued at about $419,000. 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.