TORM (NASDAQ:TRMD) Stock Price Up 1.5% – Should You Buy?

TORM plc (NASDAQ:TRMD)’s stock price rose 1.5% during mid-day trading on Tuesday . The company traded as high as $19.35 and last traded at $19.29. Approximately 271,065 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 833,963 shares. The stock had previously closed at $19.00.

Wall Street Analyst Weigh In

TRMD has been the topic of a number of research analyst reports. Fearnley Fonds raised TORM to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group lowered their price objective on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

TORM Price Performance

The stock has a 50 day simple moving average of $21.82 and a two-hundred day simple moving average of $30.85. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 2.52 and a beta of 0.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24.

TORM Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were paid a $0.876 dividend. This represents a $3.50 annualized dividend and a dividend yield of 18.02%. The ex-dividend date was Thursday, November 21st. TORM’s dividend payout ratio (DPR) is presently 45.28%.

Hedge Funds Weigh In On TORM

Several large investors have recently modified their holdings of TRMD. Marshall Wace LLP lifted its stake in shares of TORM by 860.9% in the 2nd quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock valued at $55,441,000 after purchasing an additional 1,281,176 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of TORM by 320.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock valued at $49,189,000 after purchasing an additional 964,801 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of TORM in the 2nd quarter valued at $9,619,000. International Assets Investment Management LLC purchased a new stake in shares of TORM in the 3rd quarter valued at $7,359,000. Finally, Renaissance Technologies LLC raised its holdings in shares of TORM by 38.9% in the 2nd 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 period. Institutional investors and hedge funds own 73.89% of the company’s stock.

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.