TORM (NASDAQ:TRMD) Hits New 1-Year Low – Time to Sell?

TORM plc (NASDAQ:TRMD) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $19.36 and last traded at $19.39, with a volume of 602966 shares. The stock had previously closed at $19.84.

Analyst Ratings Changes

TRMD has been the subject of a number of recent research reports. Jefferies Financial Group lowered their price objective on 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 shares of TORM to a “hold” rating in a research report on Friday, September 27th.

TORM Stock Performance

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 stock has a fifty day moving average price of $25.14 and a two-hundred day moving average price of $32.60. The company has a market cap of $1.59 billion, a P/E ratio of 2.47 and a beta of 0.21.

TORM Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were given a dividend of $0.876 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 18.02%. TORM’s dividend payout ratio (DPR) is 45.28%.

Institutional Trading of TORM

A number of institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP lifted its position in TORM by 860.9% in the second quarter. Marshall Wace LLP now owns 1,429,989 shares of the company’s stock worth $55,441,000 after purchasing an additional 1,281,176 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of TORM by 2.6% in the third quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company’s stock valued at $43,315,000 after buying an additional 32,500 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of TORM by 320.5% in the second quarter. Acadian Asset Management LLC now owns 1,265,792 shares of the company’s stock valued at $49,189,000 after buying an additional 964,801 shares during the period. Renaissance Technologies LLC boosted its stake in TORM by 38.9% during the second quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock valued at $25,945,000 after buying an additional 187,300 shares in the last quarter. Finally, Barclays PLC grew its holdings in TORM by 65.4% during the third quarter. Barclays PLC now owns 384,308 shares of the company’s stock worth $13,140,000 after acquiring an additional 151,942 shares during the period. 73.89% of the stock is owned by institutional investors and hedge funds.

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.