Toromont Industries Ltd. (TSE:TIH) Plans $0.52 Quarterly Dividend

Toromont Industries Ltd. (TSE:TIH - Get Free Report) declared a quarterly dividend on Friday, June 6th, TickerTech Dividends reports. Shareholders of record on Thursday, July 3rd will be given a dividend of 0.52 per share on Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, June 6th.

Toromont Industries Price Performance

Toromont Industries stock traded down C$0.01 during mid-day trading on Thursday, reaching C$118.95. 127,006 shares of the company were exchanged, compared to its average volume of 154,776. The company has a fifty day simple moving average of C$114.96 and a 200-day simple moving average of C$115.77. Toromont Industries has a 12 month low of C$107.32 and a 12 month high of C$134.88. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The firm has a market cap of C$9.70 billion, a PE ratio of 19.32, a PEG ratio of 3.72 and a beta of 0.68.

Insider Buying and Selling

In other news, Senior Officer Jennifer Cochrane sold 5,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of C$115.00, for a total value of C$575,000.00. Also, Director David Allan Malinauskas sold 250 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of C$118.71, for a total value of C$29,677.50. Following the completion of the transaction, the director now directly owns 600 shares of the company's stock, valued at approximately C$71,226. This represents a 29.41% decrease in their ownership of the stock. Insiders have sold 15,650 shares of company stock worth $1,817,192 in the last 90 days. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TIH. BMO Capital Markets lowered their price objective on Toromont Industries from C$130.00 to C$128.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Raymond James decreased their price target on Toromont Industries from C$130.00 to C$122.00 and set a "market perform" rating on the stock in a research note on Friday, May 2nd. National Bankshares lifted their price target on Toromont Industries from C$126.00 to C$133.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Scotiabank decreased their price target on Toromont Industries from C$133.50 to C$128.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Finally, Canaccord Genuity Group decreased their price target on Toromont Industries from C$134.00 to C$131.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$129.63.

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.