Toromont Industries (TSE:TIH) Director David Allan Malinauskas Sells 6,000 Shares

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 stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of C$146.10, for a total value of C$876,600.00.

Toromont Industries Price Performance

Shares of Toromont Industries stock traded up C$1.40 on Thursday, hitting C$147.36. 69,557 shares of the company were exchanged, compared to its average volume of 146,890. The stock has a market capitalization of C$11.97 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 3.72 and a beta of 0.65. The company has a 50-day moving average price of C$137.54 and a 200 day moving average price of C$123.85. Toromont Industries Ltd. has a 1-year low of C$107.32 and a 1-year high of C$148.13. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04.

Toromont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.52 per share. 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%.

Wall Street Analysts Forecast Growth

TIH has been the subject of a number of recent research reports. Scotiabank lifted their price objective on Toromont Industries from C$132.00 to C$140.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. BMO Capital Markets boosted their price target on Toromont Industries from C$140.00 to C$147.00 in a report on Wednesday, July 30th. National Bankshares boosted their price target 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. CIBC boosted their price target on Toromont Industries from C$129.00 to C$148.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, TD Securities upped their price target on shares of Toromont Industries from C$153.00 to C$154.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.

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