TORM (NASDAQ:TRMD) Reaches New 1-Year Low – What’s Next?

TORM plc (NASDAQ:TRMD) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $19.36 and last traded at $19.39, with a volume of 602966 shares changing hands. The stock had previously closed at $19.84.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRMD. Fearnley Fonds raised TORM to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group decreased 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 Stock Down 2.7 %

The business’s 50-day moving average is $25.70 and its 200-day moving average is $32.79. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 2.57 and a beta of 0.21. 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 business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were paid a $0.876 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 18.16%. TORM’s payout ratio is 45.28%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TRMD. Centiva Capital LP purchased a new position in shares of TORM during the 3rd quarter valued at approximately $3,077,000. DekaBank Deutsche Girozentrale increased its holdings in TORM by 1,166.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock valued at $1,289,000 after buying an additional 35,000 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of TORM in the third quarter worth about $7,359,000. SG Americas Securities LLC raised its position in shares of TORM by 597.3% in the second quarter. SG Americas Securities LLC now owns 22,914 shares of the company’s stock worth $888,000 after acquiring an additional 19,628 shares during the period. Finally, Lighthouse Investment Partners LLC boosted its stake in shares of TORM by 276.2% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company’s stock worth $4,267,000 after acquiring an additional 80,793 shares in the last quarter. 73.89% of the stock is currently owned by hedge funds and other 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.