TORM (NASDAQ:TRMD) Trading Down 1.7% – Should You Sell?

TORM plc (NASDAQ:TRMD)’s share price was down 1.7% during mid-day trading on Thursday . The company traded as low as $19.24 and last traded at $19.33. Approximately 239,814 shares were traded during trading, a decline of 71% from the average daily volume of 828,360 shares. The stock had previously closed at $19.66.

Analyst Ratings Changes

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

TORM Price Performance

The firm has a 50-day simple moving average of $22.82 and a 200-day simple moving average of $31.41. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The firm has a market cap of $1.57 billion, a P/E ratio of 2.50 and a beta of 0.21.

TORM Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were issued a $0.876 dividend. This represents a $3.50 annualized dividend and a yield of 18.16%. The ex-dividend date was Thursday, November 21st. TORM’s dividend payout ratio is presently 45.28%.

Institutional Trading of TORM

Several large investors have recently added to or reduced their stakes in TRMD. Marshall Wace LLP grew its stake in shares of TORM by 860.9% during the 2nd quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock worth $55,441,000 after purchasing an additional 1,281,176 shares during the period. Two Sigma Advisers LP grew its holdings in shares of TORM by 2.6% during the third quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company’s stock worth $43,315,000 after buying an additional 32,500 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of TORM by 320.5% in the second quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock worth $49,189,000 after buying an additional 964,801 shares in the last quarter. Renaissance Technologies LLC lifted its position in TORM by 38.9% in the second quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock valued at $25,945,000 after buying an additional 187,300 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of TORM by 65.4% during the 3rd quarter. Barclays PLC now owns 384,308 shares of the company’s stock worth $13,140,000 after purchasing an additional 151,942 shares during the period. Hedge funds and other institutional investors 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.