Toromont Industries Ltd. (TSE:TIH) Director Sells C$23,254.00 in Stock

Toromont Industries Ltd. (TSE:TIH) Director William John Harvey sold 200 shares of Toromont Industries stock in a transaction on Monday, March 10th. The shares were sold at an average price of C$116.27, for a total transaction of C$23,254.00. Following the completion of the sale, the director now owns 979 shares of the company’s stock, valued at C$113,828.33. This represents a 16.96 % decrease in their position.

Toromont Industries Trading Up 1.1 %

Shares of TIH stock opened at C$115.45 on Thursday. The business has a 50-day moving average price of C$118.08 and a two-hundred day moving average price of C$120.45. Toromont Industries Ltd. has a 12-month low of C$109.83 and a 12-month high of C$135.53. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The firm has a market cap of C$9.42 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, April 4th will be given a dividend of $0.52 per share. This is a boost from Toromont Industries’s previous quarterly dividend of $0.48. This represents a $2.08 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, March 7th. Toromont Industries’s dividend payout ratio (DPR) is presently 31.18%.

Analyst Upgrades and Downgrades

TIH has been the subject of several recent research reports. Raymond James boosted their price objective on Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Canaccord Genuity Group upped their price target on Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. National Bankshares upped their price target on Toromont Industries from C$126.00 to C$133.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, CIBC raised their price objective on shares of Toromont Industries from C$129.00 to C$131.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$136.06.

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.