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

Toromont Industries Ltd. (TSE:TIH) announced a quarterly dividend on Friday, December 6th,Zacks Dividends reports. Shareholders of record on Monday, January 6th will be paid a dividend of 0.48 per share on Monday, January 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Friday, December 6th.

Toromont Industries Stock Down 0.5 %

Shares of TIH opened at C$113.40 on Wednesday. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64. The company has a 50-day simple moving average of C$124.32 and a 200-day simple moving average of C$123.13. Toromont Industries has a 52 week low of C$111.01 and a 52 week high of C$135.53. The firm has a market capitalization of C$9.29 billion, a P/E ratio of 18.09, a P/E/G ratio of 3.72 and a beta of 0.68.

Insider Activity at Toromont Industries

In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total transaction of C$75,114.00. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on TIH. National Bankshares reduced their price objective on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. Scotiabank decreased their price target on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. National Bank Financial cut shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. BMO Capital Markets decreased their target price on shares of Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday, November 6th. Finally, Raymond James dropped their price target on shares of Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Toromont Industries currently has an average rating of “Hold” and an average target price of C$135.00.

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.