TORM (NASDAQ:TRMD) Sets New 12-Month Low – Should You Sell?

TORM plc (NASDAQ:TRMD) shares reached a new 52-week low on Tuesday . The stock traded as low as $23.35 and last traded at $23.49, with a volume of 158355 shares. The stock had previously closed at $23.80.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TRMD. Evercore ISI boosted their target price on shares of TORM from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Fearnley Fonds raised TORM to a “hold” rating in a research note on Friday, September 27th.

TORM Price 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 firm’s 50 day moving average price is $30.80 and its two-hundred day moving average price is $34.87.

TORM (NASDAQ:TRMD) last posted its quarterly earnings results on Thursday, August 15th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. TORM had a net margin of 43.81% and a return on equity of 34.45%. The firm had revenue of $437.70 million during the quarter, compared to the consensus estimate of $325.38 million. During the same period in the previous year, the firm posted $2.14 earnings per share. Analysts forecast that TORM plc will post 6.41 EPS for the current fiscal year.

TORM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be paid a $0.876 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.50 annualized dividend and a dividend yield of 14.77%. TORM’s dividend payout ratio is presently 68.05%.

Institutional Investors Weigh In On TORM

Several hedge funds and other institutional investors have recently modified their holdings of TRMD. National Bank of Canada FI acquired a new stake in shares of TORM in the 2nd quarter worth about $26,000. Fifth Third Bancorp bought a new stake in TORM during the 2nd quarter worth approximately $43,000. Syquant Capital Sas purchased a new stake in shares of TORM in the second quarter worth approximately $46,000. Assetmark Inc. lifted its holdings in shares of TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after purchasing an additional 516 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of TORM during the first quarter valued at approximately $51,000. 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.