Toromont Industries Ltd. (TSE:TIH) Announces $0.52 Quarterly Dividend

Toromont Industries Ltd. (TSE:TIH) declared a quarterly dividend on Friday, June 6th, TickerTech Dividends reports. Stockholders of record on Thursday, July 3rd will be given a dividend of 0.52 per share on Thursday, July 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, June 6th.

Toromont Industries Stock Down 0.2%

TIH stock opened at C$118.53 on Wednesday. The firm’s 50-day simple moving average is C$114.71 and its 200 day simple moving average is C$115.74. 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 stock has a market cap of C$9.67 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries has a fifty-two week low of C$107.32 and a fifty-two week high of C$134.88.

Analyst Ratings Changes

Several research firms have recently commented on TIH. Royal Bank of Canada boosted their price target on shares of Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Raymond James dropped their target price on Toromont Industries from C$130.00 to C$122.00 and set a “market perform” rating on the stock in a research report on Friday, May 2nd. TD Securities lowered their price target on Toromont Industries from C$143.00 to C$136.00 and set a “buy” rating for the company in a research note on Monday, May 5th. BMO Capital Markets cut their price objective on shares of Toromont Industries from C$130.00 to C$128.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, National Bankshares boosted their target price on shares of Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$129.63.

Insider Activity at Toromont Industries

In related news, Senior Officer Mike Cuddy sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of C$117.10, for a total transaction of C$585,500.00. Also, Director David Allan Malinauskas sold 250 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$118.71, for a total transaction of C$29,677.50. Following the sale, the director now owns 600 shares of the company’s stock, valued at approximately C$71,226. This represents a 29.41% decrease in their ownership of the stock. Insiders have sold 15,650 shares of company stock worth $1,817,192 in the last quarter. Company insiders own 0.27% of the company’s stock.

About Toromont Industries

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.