Insider Selling: Toromont Industries (TSE:TIH) Insider Sells 7,500 Shares of Stock

Key Points

• Insider Transaction: Mike Cuddy, an insider at Toromont Industries, sold 7,500 shares of stock for C$1,095,000, reducing his ownership by 16.87% to 36,955 shares.
• Stock Performance: Toromont Industries’ stock closed at C$147.36, with a market capitalization of C$11.97 billion and an annual low of C$107.32.
• Dividend Declaration: The company declared a quarterly dividend of $0.52 per share, representing a 1.4% yield, to be paid on October 3rd.

Toromont Industries Ltd. (TSE:TIH - Get Free Report) insider Mike Cuddy sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$146.00, for a total value of C$1,095,000.00. Following the transaction, the insider directly owned 36,955 shares in the company, valued at C$5,395,430. The trade was a 16.87% decrease in their ownership of the stock.

Toromont Industries Stock Performance

Shares of TIH stock traded up C$1.40 on Thursday, hitting C$147.36. 69,557 shares of the stock were exchanged, compared to its average volume of 146,890. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The firm has a market capitalization of C$11.97 billion, a PE ratio of 24.93, a P/E/G ratio of 3.72 and a beta of 0.65. Toromont Industries Ltd. has a one year low of C$107.32 and a one year high of C$148.13. The firm's 50 day moving average is C$137.54 and its two-hundred day moving average is C$123.85.

Toromont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, October 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.4%. Toromont Industries's dividend payout ratio (DPR) is presently 33.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Scotiabank lifted their price target on Toromont Industries from C$132.00 to C$140.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. TD Securities boosted their price target on Toromont Industries from C$153.00 to C$154.00 and gave the company a "buy" rating in a report on Thursday, July 31st. BMO Capital Markets upped their price objective on Toromont Industries from C$140.00 to C$147.00 in a research note on Wednesday, July 30th. CIBC raised their price objective on Toromont Industries from C$129.00 to C$148.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, Raymond James Financial increased their price target on Toromont Industries from C$122.00 to C$125.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$140.50.

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.

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