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

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

Toromont Industries Price Performance

TIH traded up C$0.11 during midday trading on Wednesday, hitting C$119.12. 15,483 shares of the company traded hands, compared to its average volume of 104,987. The company has a market capitalization of C$9.76 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 3.72 and a beta of 0.68. The business has a 50 day simple moving average of C$127.23 and a two-hundred day simple moving average of C$124.56. Toromont Industries has a 52-week low of C$107.82 and a 52-week high of C$135.53. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08.

Insider Buying and Selling at Toromont Industries

In other news, Director David Allan Malinauskas sold 2,500 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$124.00, for a total transaction of C$310,000.00. In other news, Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction that occurred on 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 Jennifer Cochrane sold 1,400 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total value of C$169,750.00. Insiders sold a total of 5,500 shares of company stock valued at $677,864 in the last ninety days. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

TIH has been the topic of a number of recent research reports. BMO Capital Markets boosted their price target on shares of Toromont Industries from C$136.00 to C$143.00 in a research report on Friday, October 18th. 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 downgraded Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. TD Securities increased their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$137.63.

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.