Toromont Industries Ltd. to Issue Quarterly Dividend of $0.48 (TSE:TIH)

Toromont Industries Ltd. (TSE:TIH) announced a quarterly dividend on Monday, November 4th, Zacks reports. Investors of record on Friday, December 6th will be given a dividend of 0.48 per share on Monday, January 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Friday, December 6th.

Toromont Industries Stock Performance

Shares of Toromont Industries stock traded up C$0.11 during trading hours on Wednesday, reaching C$119.12. The company had a trading volume of 15,483 shares, compared to its average volume of 104,987. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. The firm has a market cap of C$9.76 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a one year low of C$107.82 and a one year high of C$135.53. The business has a fifty day simple moving average of C$127.23 and a 200 day simple moving average of C$124.56.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TIH. National Bankshares cut their price objective on Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday. National Bank Financial lowered Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. BMO Capital Markets raised their target price on shares of Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. Scotiabank set a C$136.00 price objective on shares of Toromont Industries and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. Finally, TD Securities lifted their price objective on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Toromont Industries currently has an average rating of “Hold” and a consensus price target of C$137.63.

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. In other Toromont Industries news, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$124.00, for a total value of C$310,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. Insiders have sold a total of 5,500 shares of company stock valued at $677,864 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.