TORM (NASDAQ:TRMD) Shares Down 0.4% – What’s Next?

TORM plc (NASDAQ:TRMD)’s share 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 traded 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.

Analysts Set New Price Targets

A number of analysts recently issued reports on TRMD shares. Jefferies Financial Group decreased 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. Fearnley Fonds upgraded TORM to a “hold” rating in a research report on Friday, September 27th.

TORM Stock Down 0.7 %

The business’s 50-day moving average price is $27.70 and its 200 day moving average price is $33.72. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be given a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a yield of 16.73%. The ex-dividend date is Thursday, November 21st. TORM’s payout ratio is 45.28%.

Institutional Trading of TORM

A number of large investors have recently modified their holdings of TRMD. Vanguard Group Inc. raised its stake in TORM by 7.9% in the first quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after purchasing an additional 85,937 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of TORM during the 1st quarter valued at $598,000. DekaBank Deutsche Girozentrale raised its position in shares of 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 buying an additional 5,933 shares in the last quarter. Syquant Capital Sas bought a new stake in shares of TORM during the 2nd quarter worth $46,000. Finally, Lion Street Advisors LLC purchased a new position in TORM in the second quarter worth $216,000. 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.