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

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 paid 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 Price Performance

Shares of TIH opened at C$118.53 on Wednesday. The company’s 50-day moving average is C$114.71 and its 200-day moving average is C$115.74. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The firm has a market capitalization of C$9.67 billion, a PE ratio of 19.25, a PEG 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.

Insiders Place Their Bets

In other Toromont Industries news, Director Frederick James Mifflin purchased 500 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were bought at an average price of C$110.05 per share, with a total value of C$55,025.00. Also, Director David Allan Malinauskas sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of C$118.71, for a total value of C$29,677.50. Following the sale, the director now directly owns 600 shares in the company, valued at approximately C$71,226. The trade was a 29.41% decrease in their position. Insiders have sold 15,650 shares of company stock valued at $1,817,192 over the last quarter. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price target on Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. TD Securities decreased 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. Canaccord Genuity Group decreased their price target on Toromont Industries from C$134.00 to C$131.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. CIBC decreased their price target on Toromont Industries from C$130.00 to C$120.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Finally, BMO Capital Markets decreased their price target on Toromont Industries from C$130.00 to C$128.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$129.63.

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.