TORM (NASDAQ:TRMD) Reaches New 52-Week Low – Should You Sell?

TORM plc (NASDAQ:TRMD) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $16.09 and last traded at $16.35, with a volume of 898125 shares changing hands. The stock had previously closed at $16.45.

Analyst Upgrades and Downgrades

Separately, Kepler Capital Markets cut shares of TORM from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 27th.

TORM Price Performance

The company has a 50-day moving average of $18.78 and a 200 day moving average of $22.82. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $1.54 billion, a PE ratio of 2.12 and a beta of 0.14.

TORM Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.68%. The ex-dividend date of this dividend was Thursday, March 20th. TORM’s payout ratio is 27.43%.

Hedge Funds Weigh In On TORM

Hedge funds and other institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC acquired a new stake in TORM in the 4th quarter valued at about $312,000. Franklin Resources Inc. acquired a new stake in shares of TORM in the third quarter valued at approximately $1,047,000. PSI Advisors LLC lifted its position in TORM by 139.8% during the fourth quarter. PSI Advisors LLC now owns 42,367 shares of the company’s stock worth $824,000 after buying an additional 24,702 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in TORM during the fourth quarter worth $301,000. Finally, Tidal Investments LLC purchased a new stake in TORM in the 3rd quarter valued at $1,601,000. 73.89% of the stock is owned by hedge funds and other institutional investors.

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.