TORM (NASDAQ:TRMD) Stock Price Up 0.2% – Should You Buy?

TORM plc (NASDAQ:TRMD)’s stock price rose 0.2% on Friday . The stock traded as high as $19.56 and last traded at $19.42. Approximately 380,727 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 829,429 shares. The stock had previously closed at $19.38.

Wall Street Analyst Weigh In

TRMD has been the subject of several analyst reports. Fearnley Fonds upgraded shares of TORM to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group dropped their target price on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

TORM Price Performance

The company has a market capitalization of $1.58 billion, a PE ratio of 2.50 and a beta of 0.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The company’s 50 day simple moving average is $22.39 and its 200 day simple moving average is $31.18.

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 given a $0.876 dividend. The ex-dividend date was Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a yield of 18.12%. TORM’s dividend payout ratio (DPR) is presently 45.28%.

Institutional Trading of TORM

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. acquired a new position in TORM during the third quarter worth approximately $1,047,000. Tidal Investments LLC purchased a new stake in TORM in the 3rd quarter valued at $1,601,000. Geode Capital Management LLC raised its position in TORM by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock valued at $2,791,000 after purchasing an additional 505 shares during the last quarter. Barclays PLC grew its position in TORM by 65.4% during the 3rd quarter. Barclays PLC now owns 384,308 shares of the company’s stock worth $13,140,000 after purchasing an additional 151,942 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of TORM by 120.3% in the third quarter. XTX Topco Ltd now owns 24,070 shares of the company’s stock valued at $823,000 after buying an additional 13,144 shares during the last quarter. Institutional investors and hedge funds 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.