TORM (NASDAQ:TRMD) Sets New 12-Month Low – Time to Sell?

TORM plc (NASDAQ:TRMD)’s share price hit a new 52-week low on Monday . The company traded as low as $20.17 and last traded at $20.31, with a volume of 1409080 shares traded. The stock had previously closed at $20.94.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Fearnley Fonds raised TORM to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group dropped their price target on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

TORM Stock Down 3.0 %

The company has a 50 day simple moving average of $27.70 and a two-hundred day simple moving average of $33.66. The firm has a market capitalization of $1.66 billion, a P/E ratio of 2.63 and a beta of 0.27. 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be given a $0.876 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 17.25%. The ex-dividend date of this dividend is Thursday, November 21st. TORM’s dividend payout ratio is presently 45.28%.

Institutional Trading of TORM

A number of hedge funds have recently bought and sold shares of the company. Marshall Wace LLP boosted its holdings in shares of TORM by 860.9% during the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock worth $55,441,000 after purchasing an additional 1,281,176 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of TORM by 320.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock worth $49,189,000 after acquiring an additional 964,801 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of TORM in the second quarter worth approximately $9,619,000. International Assets Investment Management LLC purchased a new position in TORM during the third quarter worth approximately $7,359,000. Finally, Renaissance Technologies LLC boosted its holdings 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 last quarter. Institutional investors and hedge funds 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.