Toromont Industries Ltd. (TIH) to Issue Quarterly Dividend of $0.52 on April 4th

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 given 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 an increase from Toromont Industries’s previous quarterly dividend of $0.48.

Toromont Industries Stock Down 0.2 %

Shares of TSE:TIH traded down C$0.18 during mid-day trading on Wednesday, hitting C$117.75. 25,839 shares of the company traded hands, compared to its average volume of 147,062. The stock has a 50-day moving average price of C$117.81 and a two-hundred day moving average price of C$120.69. Toromont Industries has a 12-month low of C$109.83 and a 12-month high of C$135.53. The stock has a market cap of C$9.60 billion, a P/E ratio of 19.12, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04.

Analyst Upgrades and Downgrades

TIH has been the subject of several analyst reports. National Bank Financial upgraded shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. National Bankshares increased their price objective on shares of Toromont Industries from C$126.00 to C$133.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. CIBC boosted their target price on Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada increased their price target on Toromont Industries from C$138.00 to C$139.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, BMO Capital Markets boosted their price objective on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday, February 12th. Three 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 company’s stock. According to data from MarketBeat, Toromont Industries currently has an average rating of “Moderate Buy” and a consensus price target of C$136.06.

Insider Buying and Selling

In other Toromont Industries news, Director Jeffrey Scott Chisholm purchased 4,500 shares of Toromont Industries stock in a transaction on Tuesday, December 10th. The shares were acquired 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 business’s stock in a transaction that occurred on Friday, February 28th. The stock was 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 company insiders.

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.