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

Toromont Industries Ltd. (TSE:TIH) declared 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 is Friday, March 7th. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48.

Toromont Industries Trading Down 0.2 %

Shares of TSE:TIH traded down C$0.18 during trading on Wednesday, reaching C$117.75. 25,839 shares of the company traded hands, compared to its average volume of 147,062. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. Toromont Industries has a 52-week low of C$109.83 and a 52-week high of C$135.53. The firm has a market capitalization of C$9.60 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 3.72 and a beta of 0.68. The business’s fifty day moving average is C$117.81 and its 200-day moving average is C$120.69.

Insider Buying and Selling

In other Toromont Industries news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were acquired at an average price 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 Toromont Industries stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$121.25, for a total transaction of C$606,250.00. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. National Bankshares raised their price target on shares of Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Scotiabank raised their target price on Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. BMO Capital Markets lifted their price objective on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada boosted their target price on Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Toromont Industries currently has a consensus 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.