TORM (NASDAQ:TRMD) Trading Down 0.4% – Should You Sell?

TORM plc (NASDAQ:TRMD)’s stock price dropped 0.4% during trading on Thursday . The company traded as low as $20.69 and last traded at $21.09. Approximately 1,275,522 shares changed hands during mid-day trading, an increase of 59% from the average daily volume of 804,719 shares. The stock had previously closed at $21.18.

Analyst Ratings Changes

TRMD has been the subject of several recent research reports. Fearnley Fonds raised shares of TORM to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group dropped their target price on TORM from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

TORM Trading Down 0.7 %

The firm’s 50 day moving average is $27.70 and its 200 day moving average is $33.72. 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be given a $0.876 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 16.73%. The ex-dividend date is Thursday, November 21st. TORM’s payout ratio is 45.28%.

Hedge Funds Weigh In On TORM

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of TORM by 7.9% in the first quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock worth $41,221,000 after purchasing an additional 85,937 shares during the last quarter. Virtu Financial LLC purchased a new stake in TORM in the 1st quarter worth approximately $598,000. DekaBank Deutsche Girozentrale grew its position in shares of TORM by 11.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 58,000 shares of the company’s stock worth $1,971,000 after buying an additional 5,933 shares during the last quarter. Syquant Capital Sas purchased a new position in shares of TORM during the second quarter valued at approximately $46,000. Finally, Lion Street Advisors LLC bought a new position in shares of TORM during the second quarter valued at approximately $216,000. 73.89% of the stock is owned by institutional investors.

About TORM

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.