TORM (NASDAQ:TRMD) Reaches New 52-Week Low – Should You Sell?

TORM plc (NASDAQ:TRMD)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $18.14 and last traded at $18.25, with a volume of 366887 shares changing hands. The stock had previously closed at $18.59.

Analysts Set New Price Targets

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

TORM Price Performance

The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average is $24.58 and its 200 day moving average is $32.26. The firm has a market capitalization of $1.48 billion, a P/E ratio of 2.36 and a beta of 0.21.

TORM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.876 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 19.28%. TORM’s dividend payout ratio is currently 45.28%.

Hedge Funds Weigh In On TORM

Several institutional investors and hedge funds have recently bought and sold shares of the business. National Bank of Canada FI purchased a new position in TORM during the second quarter valued at approximately $26,000. Fifth Third Bancorp acquired a new position in shares of TORM in the second quarter worth $43,000. Assetmark Inc. raised its holdings in shares of TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock worth $41,000 after acquiring an additional 516 shares in the last quarter. Quarry LP purchased a new position in TORM in the third quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd acquired a new position in TORM in the 2nd quarter worth about $78,000. Hedge funds and other 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.