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Toromont Industries Ltd. (TSE:TIH – Get Free Report) insider Mike Cuddy sold 7,500 shares of the stock in a transaction dated 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 sale, the insider directly owned 36,955 shares in the company, valued at C$5,395,430. This trade represents a 16.87% decrease in their position.
Toromont Industries Trading Up 1.3%
Shares of TIH opened at C$147.82 on Friday. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The firm has a 50 day moving average price of C$138.01 and a 200-day moving average price of C$124.03. The firm has a market cap of C$12.00 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 3.72 and a beta of 0.65. Toromont Industries Ltd. has a fifty-two week low of C$107.32 and a fifty-two week high of C$148.13.
Toromont Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, October 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, September 5th. Toromont Industries’s dividend payout ratio is 33.84%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on TIH shares. Scotiabank upped 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 note on Thursday, July 31st. Raymond James Financial raised their price objective on Toromont Industries from C$122.00 to C$125.00 and gave the stock a “market perform” rating in a research report on Thursday, July 31st. BMO Capital Markets boosted their price objective on Toromont Industries from C$140.00 to C$147.00 in a report on Wednesday, July 30th. TD Securities lifted their price target on Toromont Industries from C$153.00 to C$154.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Finally, CIBC upped their price target on Toromont Industries from C$129.00 to C$148.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$140.50.
Read Our Latest Research Report on Toromont Industries
About Toromont Industries
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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