Shares of TORM plc (NASDAQ:TRMD – Get Rating) were down 10.3% on Friday . The company traded as low as $19.07 and last traded at $19.07. Approximately 970 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 257,409 shares. The stock had previously closed at $21.26.
Analyst Ratings Changes
A number of research analysts recently weighed in on TRMD shares. Evercore ISI raised their target price on shares of TORM to $25.00 in a report on Monday, August 22nd. TheStreet raised shares of TORM from a “c” rating to a “b-” rating in a research note on Tuesday, June 7th.
TORM Price Performance
The company has a market capitalization of $1.55 billion, a PE ratio of 16.56 and a beta of -236.29. The firm’s 50 day simple moving average is $18.79 and its 200 day simple moving average is $13.82. The company has a quick ratio of 1.94, a current ratio of 2.25 and a debt-to-equity ratio of 0.75.
TORM Increases Dividend
The business also recently disclosed a — dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, September 1st were given a $0.58 dividend. The ex-dividend date was Wednesday, August 31st. This is a positive change from TORM’s previous — dividend of $0.10. TORM’s dividend payout ratio is currently 36.84%.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Allianz Asset Management GmbH raised its stake in TORM by 37.8% in the 4th quarter. Allianz Asset Management GmbH now owns 25,952 shares of the company’s stock valued at $205,000 after purchasing an additional 7,121 shares during the last quarter. Quaero Capital S.A. grew its holdings in TORM by 5.6% in the 1st quarter. Quaero Capital S.A. now owns 295,609 shares of the company’s stock valued at $2,555,000 after buying an additional 15,609 shares in the last quarter. WealthTrust Axiom LLC grew its holdings in TORM by 16.7% in the 1st quarter. WealthTrust Axiom LLC now owns 35,000 shares of the company’s stock valued at $310,000 after buying an additional 5,000 shares in the last quarter. Swiss National Bank grew its holdings in TORM by 7.9% in the 1st quarter. Swiss National Bank now owns 58,020 shares of the company’s stock valued at $503,000 after buying an additional 4,248 shares in the last quarter. Finally, B. Riley Wealth Management Inc. purchased a new stake in TORM in the 1st quarter valued at $266,000.
TORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. The company transports gasoline, jet fuel, and naphtha. As of March 23, 2022, it operated a fleet of approximately 85 vessels. The company was founded in 1889 and is headquartered in London, the United Kingdom.
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