TORM (NASDAQ:TRMD) Stock Price Down 3.6% – Should You Sell?

Shares of TORM plc (NASDAQ:TRMD) traded down 3.6% during mid-day trading on Thursday . The company traded as low as $18.64 and last traded at $18.83. 154,927 shares were traded during trading, a decline of 83% from the average session volume of 934,939 shares. The stock had previously closed at $19.52.

TORM Price Performance

The firm has a market capitalization of $1.79 billion, a P/E ratio of 2.47 and a beta of 0.14. The business has a 50-day moving average of $19.52 and a 200 day moving average of $23.95. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 12.58%. The ex-dividend date of this dividend is Thursday, March 20th. TORM’s dividend payout ratio (DPR) is 27.43%.

Hedge Funds Weigh In On TORM

Several large investors have recently added to or reduced their stakes in TRMD. Quarry LP purchased a new stake in TORM in the 3rd quarter valued at $51,000. Jones Financial Companies Lllp increased its position in shares of TORM by 49.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock valued at $114,000 after buying an additional 1,939 shares during the period. Thrivent Financial for Lutherans purchased a new position in shares of TORM during the third quarter worth about $224,000. Tower Research Capital LLC TRC raised its position in shares of TORM by 8.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company’s stock valued at $175,000 after buying an additional 711 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its position in shares of TORM by 26.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock valued at $208,000 after purchasing an additional 2,219 shares during the last quarter. 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.