Insider Selling: Toromont Industries (TSE:TIH) Director Sells 972 Shares of Stock

Key Points

• Director David Allan Malinauskas sold 972 shares of Toromont on March 10 at an average price of C$201.60, for a total of C$195,955.20.
• Toromont raised its quarterly dividend to $0.56 (annualized $2.24), yielding about 1.1%; the ex-dividend date was March 6 and the dividend is payable April 2.
• Analysts are bullish overall: five analysts rate the stock Buy (three Hold), several firms have lifted price targets, and the MarketBeat consensus is a "Moderate Buy" with an average target of C$198.63.

Toromont Industries Ltd. (TSE:TIH - Get Free Report) Director David Allan Malinauskas sold 972 shares of Toromont Industries stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total transaction of C$195,955.20.

Toromont Industries Price Performance

Shares of TSE:TIH traded down C$4.46 during trading on Thursday, reaching C$197.33. 113,788 shares of the company's stock traded hands, compared to its average volume of 251,269. The company has a quick ratio of 1.38, a current ratio of 2.93 and a debt-to-equity ratio of 25.87. Toromont Industries Ltd. has a fifty-two week low of C$107.32 and a fifty-two week high of C$215.58. The company has a 50-day simple moving average of C$187.71 and a 200-day simple moving average of C$168.22. The firm has a market cap of C$16.07 billion, a PE ratio of 32.51, a P/E/G ratio of 3.72 and a beta of 0.89.

Toromont Industries (TSE:TIH - Get Free Report) last announced its earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share for the quarter. Toromont Industries had a return on equity of 15.97% and a net margin of 9.54%.The business had revenue of C$1.42 billion during the quarter. As a group, analysts predict that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current year.

Toromont Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.24 dividend on an annualized basis and a yield of 1.1%. This is a boost from Toromont Industries's previous quarterly dividend of $0.52. Toromont Industries's dividend payout ratio is 34.27%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TIH. TD Securities raised their target price on Toromont Industries from C$195.00 to C$228.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. BMO Capital Markets increased their price objective on Toromont Industries from C$196.00 to C$210.00 in a research note on Thursday, February 12th. Canadian Imperial Bank of Commerce raised their price objective on Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. Raymond James Financial upped their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Thursday, February 12th. Finally, Canaccord Genuity Group increased their target price on shares of Toromont Industries from C$172.00 to C$200.00 in a research report on Friday, February 13th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Toromont Industries has a consensus rating of "Moderate Buy" and an average price target 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.

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