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

Toromont Industries Ltd. (TSE:TIH) announced a quarterly dividend on Friday, March 7th, TickerTech Dividends reports. Investors 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 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Toromont Industries’s previous quarterly dividend of $0.48.

Toromont Industries Price Performance

Shares of TSE TIH traded down C$0.40 on Wednesday, hitting C$117.53. The company’s stock had a trading volume of 11,207 shares, compared to its average volume of 146,717. 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 stock has a 50 day moving average of C$117.81 and a 200-day moving average 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 company has a market capitalization of C$9.59 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Insiders Place Their Bets

In related news, Senior Officer Jennifer Cochrane sold 5,000 shares of the 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. Also, Director Jeffrey Scott Chisholm purchased 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was acquired at an average price of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BMO Capital Markets raised their price target on Toromont Industries from C$134.00 to C$138.00 in a research report on Wednesday, February 12th. Canaccord Genuity Group lifted their price objective on Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Raymond James raised their price target on shares of Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. Finally, Scotiabank raised their target price on shares of Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.