TORM (NASDAQ:TRMD) Sets New 12-Month Low – Should You Sell?

TORM plc (NASDAQ:TRMD)’s share price reached a new 52-week low on Friday . The stock traded as low as $16.73 and last traded at $16.97, with a volume of 1223004 shares. The stock had previously closed at $17.68.

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 company has a market capitalization of $1.60 billion, a P/E ratio of 2.20 and a beta of 0.14. The stock’s fifty day moving average price is $19.05 and its 200-day moving average price is $23.36.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Thursday, March 20th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.14%. TORM’s payout ratio is 27.43%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its position in TORM by 94.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company’s stock worth $84,585,000 after purchasing an additional 2,115,672 shares during the period. Norges Bank bought a new stake in shares of TORM during the 4th quarter worth about $21,273,000. Millennium Management LLC grew its stake in TORM by 439.0% in the 4th quarter. Millennium Management LLC now owns 430,399 shares of the company’s stock valued at $8,371,000 after buying an additional 350,555 shares during the last quarter. Vanguard Group Inc. raised its holdings in TORM by 22.4% in the 4th quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company’s stock valued at $36,417,000 after acquiring an additional 345,463 shares during the period. Finally, Jane Street Group LLC lifted its position in TORM by 353.5% during the fourth quarter. Jane Street Group LLC now owns 187,998 shares of the company’s stock worth $3,613,000 after acquiring an additional 262,149 shares during the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

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.