TORM (NASDAQ:TRMD) Downgraded to Strong Sell Rating by Kepler Capital Markets

Kepler Capital Markets lowered shares of TORM (NASDAQ:TRMD) from a hold rating to a strong sell rating in a research note released on Thursday,Zacks.com reports.

TORM Price Performance

Shares of TRMD stock traded down $0.10 on Thursday, hitting $16.87. 769,958 shares of the company’s stock were exchanged, compared to its average volume of 954,701. The company has a 50 day moving average of $18.98 and a 200 day moving average of $23.24. The stock has a market cap of $1.59 billion, a P/E ratio of 2.18 and a beta of 0.14. 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 has a 12 month low of $16.58 and a 12 month high of $40.47.

TORM Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.23%. TORM’s payout ratio is presently 27.43%.

Institutional Trading of TORM

A number of hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its position in TORM by 94.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company’s stock worth $84,585,000 after buying an additional 2,115,672 shares during the period. Vanguard Group Inc. increased its holdings in TORM by 22.4% in the fourth quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company’s stock valued at $36,417,000 after purchasing an additional 345,463 shares during the period. Two Sigma Advisers LP raised its position in TORM by 2.6% during the 3rd quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company’s stock worth $43,315,000 after purchasing an additional 32,500 shares during the last quarter. Norges Bank bought a new stake in shares of TORM in the 4th quarter valued at about $21,273,000. Finally, Renaissance Technologies LLC increased its stake in shares of TORM by 24.3% in the fourth quarter. Renaissance Technologies LLC now owns 561,889 shares of the company’s stock valued at $10,929,000 after buying an additional 109,916 shares during the period. 73.89% of the stock is owned by institutional investors and hedge funds.

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.