Toromont Industries Ltd. (TSE:TIH – Get Rating) Senior Officer Jennifer Cochrane sold 4,000 shares of the company’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of C$116.25, for a total value of C$465,000.00. Following the sale, the insider now owns 11,500 shares in the company, valued at C$1,336,875.
Shares of TIH stock traded up C$1.53 on Friday, hitting C$118.44. 211,235 shares of the company’s stock traded hands, compared to its average volume of 138,883. The company has a debt-to-equity ratio of 34.09, a quick ratio of 1.68 and a current ratio of 2.59. Toromont Industries Ltd. has a one year low of C$89.25 and a one year high of C$118.74. The company’s fifty day simple moving average is C$110.12 and its 200 day simple moving average is C$109.56. The stock has a market capitalization of C$9.76 billion and a price-to-earnings ratio of 29.61.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 4th. Stockholders of record on Monday, April 4th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, March 8th. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.35. Toromont Industries’s dividend payout ratio is 39.00%.
Several equity research analysts have recently weighed in on TIH shares. National Bankshares upped their price target on Toromont Industries from C$125.00 to C$126.00 in a research report on Wednesday, January 5th. Raymond James reiterated an “outperform” rating and set a C$120.00 price target on shares of Toromont Industries in a research report on Thursday, February 10th. Royal Bank of Canada increased their price objective on Toromont Industries from C$123.00 to C$126.00 and gave the stock an “outperform” rating in a research report on Friday, February 11th. CIBC increased their price objective on Toromont Industries from C$113.00 to C$118.00 in a research report on Thursday, January 13th. Finally, National Bank Financial increased their price objective on Toromont Industries to C$126.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 5th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$122.70.
About Toromont Industries (Get Rating)
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.
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