TORM (NASDAQ:TRMD) Stock Price Down 1.1% – Should You Sell?

TORM plc (NASDAQ:TRMD)’s stock price was down 1.1% during trading on Wednesday . The stock traded as low as $20.34 and last traded at $20.49. Approximately 303,644 shares changed hands during trading, a decline of 62% from the average daily volume of 805,782 shares. The stock had previously closed at $20.71.

Analysts Set New Price Targets

Several equities analysts have recently commented on TRMD shares. Jefferies Financial Group lowered their price objective 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 Stock 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 firm’s 50-day moving average is $26.53 and its 200-day moving average is $33.23.

TORM Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were given a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a dividend yield of 17.97%. The ex-dividend date of this dividend was Thursday, November 21st. TORM’s dividend payout ratio is currently 45.28%.

Institutional Investors Weigh In On TORM

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. bought a new position in TORM during the third quarter valued at approximately $1,047,000. Tidal Investments LLC purchased a new stake in shares of TORM in the third quarter worth $1,601,000. Geode Capital Management LLC grew its stake in TORM by 0.6% during the third quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock valued at $2,791,000 after acquiring an additional 505 shares in the last quarter. Barclays PLC grew its stake in TORM by 65.4% during the third quarter. Barclays PLC now owns 384,308 shares of the company’s stock valued at $13,140,000 after acquiring an additional 151,942 shares in the last quarter. Finally, XTX Topco Ltd grew its stake in TORM by 120.3% during the third quarter. XTX Topco Ltd now owns 24,070 shares of the company’s stock valued at $823,000 after acquiring an additional 13,144 shares in the last quarter. Hedge funds and other institutional investors 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.