Insider Selling: Toromont Industries Ltd. (TSE:TIH) Senior Officer Sells 5,000 Shares of Stock

Toromont Industries Ltd. (TSE:TIH) Senior Officer Jennifer Cochrane sold 5,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of C$121.25, for a total transaction of C$606,250.00.

Toromont Industries Trading Down 3.0 %

Shares of TSE:TIH traded down C$3.64 on Tuesday, hitting C$116.84. 48,840 shares of the company’s stock were exchanged, compared to its average volume of 147,815. The stock has a market capitalization of C$9.53 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. Toromont Industries Ltd. has a 12 month low of C$109.83 and a 12 month high of C$135.53. The business’s 50 day simple moving average is C$117.76 and its two-hundred day simple moving average is C$120.71. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38.

Toromont Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, April 4th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.78%. Toromont Industries’s dividend payout ratio (DPR) is 31.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TIH shares. Raymond James upped their price objective on Toromont Industries from C$122.00 to C$130.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. BMO Capital Markets increased their price target on Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday, February 12th. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research note on Sunday, December 15th. Canaccord Genuity Group increased their target price on shares of Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Scotiabank lifted their price target on shares of 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. Three investment 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. According to data from MarketBeat, the stock currently has a consensus 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.