TORM (NASDAQ:TRMD) Trading 1.8% Higher – Time to Buy?

TORM plc (NASDAQ:TRMD) shares traded up 1.8% during mid-day trading on Tuesday . The stock traded as high as $23.89 and last traded at $23.85. 374,200 shares were traded during mid-day trading, a decline of 52% from the average session volume of 779,436 shares. The stock had previously closed at $23.43.

Analyst Ratings Changes

Several research firms recently commented on TRMD. Evercore ISI lifted their price objective on TORM from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Fearnley Fonds raised TORM to a “hold” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group lowered their price target on TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 14th.

TORM Stock Performance

The stock has a fifty day moving average of $30.01 and a 200 day moving average of $34.56. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51.

TORM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.876 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.50 annualized dividend and a dividend yield of 14.59%. TORM’s dividend payout ratio (DPR) is 68.05%.

Institutional Trading of TORM

Hedge funds have recently modified their holdings of the company. DekaBank Deutsche Girozentrale raised its holdings in TORM by 1,166.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock valued at $1,289,000 after buying an additional 35,000 shares during the period. International Assets Investment Management LLC acquired a new stake in TORM in the third quarter worth about $7,359,000. SG Americas Securities LLC raised its holdings in shares of 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 buying an additional 19,628 shares during the last quarter. Lighthouse Investment Partners LLC increased its position 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 period. Finally, Hsbc Holdings PLC acquired a new stake in TORM during the 2nd quarter worth about $9,619,000. 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.