Toromont Industries (TSE:TIH) Director David Allan Malinauskas Sells 972 Shares of Stock

Toromont Industries Ltd. (TSE:TIH) Director David Allan Malinauskas sold 972 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total value of C$195,955.20.

Toromont Industries Stock Performance

Toromont Industries stock traded up C$0.49 during midday trading on Friday, hitting C$197.18. 42,272 shares of the company were exchanged, compared to its average volume of 249,875. The business has a fifty day simple moving average of C$188.33 and a two-hundred day simple moving average of C$168.42. The company has a debt-to-equity ratio of 25.87, a quick ratio of 1.38 and a current ratio of 2.93. The firm has a market capitalization of C$16.06 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 3.72 and a beta of 0.89. Toromont Industries Ltd. has a fifty-two week low of C$107.32 and a fifty-two week high of C$215.58.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Tuesday, February 10th. The company reported C$1.92 EPS for the quarter. The business had revenue of C$1.42 billion for the quarter. Toromont Industries had a return on equity of 15.97% and a net margin of 9.54%. On average, sell-side analysts forecast that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current year.

Toromont Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Toromont Industries’s previous quarterly dividend of $0.52. Toromont Industries’s dividend payout ratio is currently 34.27%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TIH. Raymond James Financial lifted their price target on Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday, February 12th. Scotiabank raised their price objective on Toromont Industries from C$181.00 to C$208.00 in a report on Wednesday, February 18th. Canaccord Genuity Group boosted their price objective on Toromont Industries from C$172.00 to C$200.00 in a research report on Friday, February 13th. BMO Capital Markets lifted their price target on shares of Toromont Industries from C$196.00 to C$210.00 in a research note on Thursday, February 12th. Finally, Canadian Imperial Bank of Commerce boosted their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$198.63.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.