TORM (NASDAQ:TRMD) Stock Price Down 1.7% – What’s Next?

TORM plc (NASDAQ:TRMD) shares fell 1.7% on Monday . The company traded as low as $21.23 and last traded at $21.51. 641,066 shares traded hands during trading, a decline of 19% from the average session volume of 796,161 shares. The stock had previously closed at $21.89.

Analyst Ratings Changes

TRMD has been the subject of several research reports. Jefferies Financial Group dropped 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 TORM to a “hold” rating in a research report on Friday, September 27th.

TORM Stock Performance

The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $29.16 and its two-hundred day moving average price is $34.22.

TORM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be issued a $0.876 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.50 annualized dividend and a yield of 16.49%. TORM’s payout ratio is 45.28%.

Institutional Investors Weigh In On TORM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI acquired a new stake in TORM in the 2nd quarter valued at approximately $26,000. Assetmark Inc. boosted its holdings in TORM by 76.9% during the 3rd quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after acquiring an additional 516 shares during the period. Fifth Third Bancorp acquired a new position in TORM in the 2nd quarter valued at about $43,000. Syquant Capital Sas purchased a new stake in TORM during the second quarter worth about $46,000. Finally, Quarry LP acquired a new stake in shares of TORM during the third quarter worth about $51,000. 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.