TORM (NASDAQ:TRMD) Sets New 52-Week Low – What’s Next?

TORM plc (NASDAQ:TRMD) reached a new 52-week low during trading on Tuesday . The company traded as low as $18.14 and last traded at $18.25, with a volume of 366887 shares trading hands. The stock had previously closed at $18.59.

Analyst Ratings Changes

TRMD has been the subject of a number of analyst reports. Jefferies Financial Group cut their price objective on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Fearnley Fonds upgraded 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 business has a 50 day simple moving average of $24.03 and a 200-day simple moving average of $32.03. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 2.39 and a beta of 0.21.

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 issued a dividend of $0.876 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.50 annualized dividend and a yield of 19.00%. TORM’s dividend payout ratio (DPR) is currently 45.28%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of TORM by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock worth $2,791,000 after purchasing an additional 505 shares during the period. Assetmark Inc. grew its position in TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock worth $41,000 after acquiring an additional 516 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of TORM during the 2nd quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of TORM by 7.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,220 shares of the company’s stock worth $433,000 after acquiring an additional 811 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of TORM by 12.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,338 shares of the company’s stock worth $365,000 after buying an additional 1,030 shares during the period. 73.89% of the stock is owned by institutional investors.

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.