TORM (NASDAQ:TRMD) Trading Down 1.7% – Should You Sell?

TORM plc (NASDAQ:TRMD)’s share price was down 1.7% during mid-day trading on Monday . The stock traded as low as $21.23 and last traded at $21.51. Approximately 641,066 shares traded hands during trading, a decline of 19% from the average daily volume of 796,161 shares. The stock had previously closed at $21.89.

Analyst Ratings Changes

A number of brokerages recently commented on TRMD. Jefferies Financial Group lowered 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 TORM to a “hold” rating in a report on Friday, September 27th.

TORM Stock Down 2.9 %

The firm’s fifty day moving average price is $29.16 and its 200-day moving average price is $34.22. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be paid a $0.876 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.50 annualized dividend and a yield of 16.49%. TORM’s dividend payout ratio is presently 45.28%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in shares of TORM in the third quarter valued at approximately $1,601,000. Geode Capital Management LLC grew its position in TORM by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock worth $2,791,000 after purchasing an additional 505 shares during the last quarter. Barclays PLC grew its position in TORM by 65.4% during the 3rd quarter. Barclays PLC now owns 384,308 shares of the company’s stock worth $13,140,000 after purchasing an additional 151,942 shares during the last quarter. XTX Topco Ltd lifted its position in TORM by 120.3% during the 3rd quarter. XTX Topco Ltd now owns 24,070 shares of the company’s stock worth $823,000 after acquiring an additional 13,144 shares during the period. Finally, Weiss Asset Management LP purchased a new position in shares of TORM in the 3rd quarter valued at approximately $1,026,000. 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.