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

Toromont Industries Ltd. (TSE:TIH) announced a quarterly dividend on Friday, March 7th, TickerTech Dividends reports. Shareholders of record on Friday, April 4th will be paid a dividend of 0.52 per share on Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48.

Toromont Industries Stock Down 0.3 %

Shares of TIH traded down C$0.40 during trading on Wednesday, reaching C$117.53. The company’s stock had a trading volume of 11,207 shares, compared to its average volume of 146,717. Toromont Industries has a twelve month low of C$109.83 and a twelve 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 company has a market cap of C$9.59 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a fifty day moving average of C$117.81 and a two-hundred day moving average of C$120.69.

Analyst Upgrades and Downgrades

TIH has been the topic of a number of research analyst reports. Canaccord Genuity Group increased their price objective on shares of Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. CIBC increased their price target on shares of Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. BMO Capital Markets boosted their price objective on Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday, February 12th. Scotiabank increased their target price on Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$136.06.

Insider Buying and Selling

In other news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. Also, Senior Officer Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of C$121.25, for a total transaction of C$606,250.00. Company insiders own 0.27% of the company’s stock.

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.