TORM (NASDAQ:TRMD) Trading Down 8% – Here’s What Happened

by · The Markets Daily

TORM plc (NASDAQ:TRMD – Get Free Report)’s stock price was down 8% during trading on Thursday . The company traded as low as $21.84 and last traded at $21.91. Approximately 887,132 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 787,823 shares. The stock had previously closed at $23.81.

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on TORM

TORM Trading Down 5.8 %

The stock has a 50-day simple moving average of $29.65 and a two-hundred day simple moving average of $34.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.876 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a yield of 16.21%. TORM’s payout ratio is 68.05%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TRMD. SG Americas Securities LLC bought a new position in shares of TORM during the first quarter valued at about $115,000. Vanguard Group Inc. grew its stake in shares of TORM by 7.9% during the first quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after buying an additional 85,937 shares during the last quarter. Aristides Capital LLC bought a new position in shares of TORM during the first quarter valued at about $256,000. Virtu Financial LLC bought a new stake in shares of TORM in the first quarter worth about $598,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in TORM by 11.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 58,000 shares of the company’s stock valued at $1,971,000 after purchasing an additional 5,933 shares during the period. 73.89% of the stock is owned by institutional investors.

TORM Company Profile

(Get Free Report)

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.

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