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

Shares of TORM plc (NASDAQ:TRMD) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $23.35 and last traded at $23.49, with a volume of 158355 shares changing hands. The stock had previously closed at $23.80.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Evercore ISI raised their price target on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Fearnley Fonds upgraded TORM to a “hold” rating in a research note on Friday, September 27th.

TORM Stock Down 3.6 %

The company has a market cap of $1.87 billion, a PE ratio of 3.02 and a beta of 0.27. The stock has a 50-day moving average of $31.02 and a 200-day moving average of $34.96. The company has a quick ratio of 2.94, a current ratio of 3.18 and a debt-to-equity ratio of 0.53.

TORM (NASDAQ:TRMD) last issued its quarterly earnings data on Thursday, August 15th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.99 by $0.03. TORM had a return on equity of 34.97% and a net margin of 43.81%. The company had revenue of $437.70 million during the quarter, compared to analyst estimates of $325.38 million. During the same quarter in the previous year, the firm earned $2.14 earnings per share. Sell-side analysts predict that TORM plc will post 6.41 earnings per share for the current fiscal year.

TORM Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.876 per share. This represents a $3.50 dividend on an annualized basis and a yield of 15.27%. The ex-dividend date of this dividend is Thursday, November 21st. TORM’s payout ratio is currently 45.28%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its position in shares of TORM by 1,166.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock valued at $1,289,000 after acquiring an additional 35,000 shares during the period. International Assets Investment Management LLC bought a new position in shares of TORM during the third quarter valued at approximately $7,359,000. SG Americas Securities LLC lifted its stake in TORM by 597.3% in the second quarter. SG Americas Securities LLC now owns 22,914 shares of the company’s stock worth $888,000 after acquiring an additional 19,628 shares during the period. BNP Paribas Financial Markets bought a new stake in TORM in the first quarter valued at $1,229,000. Finally, Lighthouse Investment Partners LLC increased its position in TORM by 276.2% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company’s stock valued at $4,267,000 after purchasing an additional 80,793 shares during the period. 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.