Toromont Industries (TSE:TIH) Director Sells C$876,600.00 in Stock

Key Points

• Director David Allan Malinauskas sold 6,000 shares of Toromont Industries at an average price of C$146.10, totaling C$876,600.00.
• The company declared a quarterly dividend of $0.52 per share to be paid on October 3rd, yielding an annualized dividend of 1.4%.
• Wall Street analysts have raised their price targets for Toromont Industries, with a consensus target of C$140.50 and a rating of "Moderate Buy."

Toromont Industries Ltd. (TSE:TIH - Get Free Report) Director David Allan Malinauskas sold 6,000 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$146.10, for a total transaction of C$876,600.00.

Toromont Industries Stock Performance

Shares of TIH stock traded up C$1.12 during trading hours on Tuesday, hitting C$148.98. The stock had a trading volume of 122,065 shares, compared to its average volume of 146,773. The firm has a market capitalization of C$12.10 billion, a PE ratio of 25.21, a PEG ratio of 3.72 and a beta of 0.65. Toromont Industries Ltd. has a twelve month low of C$107.32 and a twelve month high of C$149.43. The stock's 50 day moving average is C$138.92 and its 200 day moving average is C$124.43. 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TIH. National Bankshares increased their price objective on Toromont Industries from C$130.00 to C$140.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. BMO Capital Markets increased their price target on Toromont Industries from C$140.00 to C$147.00 in a report on Wednesday, July 30th. 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. Scotiabank increased their price target on Toromont Industries from C$132.00 to C$140.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Finally, CIBC increased their price target on Toromont Industries from C$129.00 to C$148.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Toromont Industries presently has a consensus rating of "Moderate Buy" and an average target price 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.