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 Monday . The company traded as low as $20.17 and last traded at $20.31, with a volume of 1409080 shares. The stock had previously closed at $20.94.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Fearnley Fonds raised TORM to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group reduced their target price on shares of TORM from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

TORM Trading Down 3.0 %

The company has a 50-day moving average price of $27.70 and a 200-day moving average price of $33.66. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 2.63 and a beta of 0.27.

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 dividend on an annualized basis and a yield of 17.25%. TORM’s payout ratio is presently 45.28%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in TORM by 7.9% in the first quarter. Vanguard Group Inc. now owns 1,179,417 shares of the company’s stock valued at $41,221,000 after purchasing an additional 85,937 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of TORM by 11.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 58,000 shares of the company’s stock worth $1,971,000 after acquiring an additional 5,933 shares during the period. Syquant Capital Sas acquired a new position in shares of TORM in the second quarter worth approximately $46,000. Lion Street Advisors LLC bought a new stake in TORM in the second quarter valued at approximately $216,000. Finally, SG Americas Securities LLC increased its position in TORM by 597.3% during the 2nd quarter. SG Americas Securities LLC now owns 22,914 shares of the company’s stock valued at $888,000 after purchasing an additional 19,628 shares during the period. Institutional investors own 73.89% of the company’s stock.

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.