TORM (NASDAQ:TRMD) Stock Price Up 1.5% – Should You Buy?

Shares of TORM plc (NASDAQ:TRMD) were up 1.5% during mid-day trading on Tuesday . The stock traded as high as $19.35 and last traded at $19.29. Approximately 271,065 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 833,963 shares. The stock had previously closed at $19.00.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TRMD shares. Jefferies Financial Group cut their price objective on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Fearnley Fonds upgraded TORM to a “hold” rating in a report on Friday, September 27th.

TORM Trading Up 2.4 %

The company has a fifty day simple moving average of $21.82 and a two-hundred day simple moving average of $30.85. 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 company has a market cap of $1.59 billion, a PE ratio of 2.52 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 issued a dividend of $0.876 per share. The ex-dividend date was Thursday, November 21st. This represents a $3.50 annualized dividend and a yield of 18.02%. TORM’s dividend payout ratio (DPR) is 45.28%.

Institutional Investors Weigh In On TORM

Several large investors have recently bought and sold shares of TRMD. Centiva Capital LP purchased a new position in shares of TORM in the 3rd quarter valued at about $3,077,000. DekaBank Deutsche Girozentrale increased its holdings in shares of TORM by 1,166.7% in the 3rd 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 last quarter. International Assets Investment Management LLC purchased a new position in shares of TORM in the 3rd quarter valued at about $7,359,000. Lighthouse Investment Partners LLC increased its holdings in shares of TORM by 276.2% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 110,049 shares of the company’s stock valued at $4,267,000 after acquiring an additional 80,793 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of TORM in the 2nd quarter valued at about $9,619,000. 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.