TORM (NASDAQ:TRMD) Shares Down 0.3% – What’s Next?

TORM plc (NASDAQ:TRMD) shares were down 0.3% during trading on Tuesday . The stock traded as low as $20.19 and last traded at $20.25. Approximately 223,359 shares traded hands during trading, a decline of 72% from the average daily volume of 804,097 shares. The stock had previously closed at $20.31.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group cut their target price on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Fearnley Fonds raised shares of TORM to a “hold” rating in a report on Friday, September 27th.

TORM Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The company’s fifty day moving average price is $27.70 and its two-hundred day moving average price is $33.66.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be paid a $0.876 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 17.01%. TORM’s dividend payout ratio (DPR) is presently 45.28%.

Institutional Investors Weigh In On TORM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP increased its holdings in shares of TORM by 860.9% in the second 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 in the last quarter. Acadian Asset Management LLC increased its position in TORM by 320.5% in the second quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock worth $49,189,000 after purchasing an additional 964,801 shares during the period. Hsbc Holdings PLC bought a new stake in TORM during the 2nd quarter worth about $9,619,000. International Assets Investment Management LLC acquired a new stake in shares of TORM during the 3rd quarter worth approximately $7,359,000. Finally, Renaissance Technologies LLC lifted its stake 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 purchasing 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.