Toromont Industries Ltd. (TIH) To Go Ex-Dividend on March 7th

Toromont Industries Ltd. (TSE:TIH) announced a quarterly dividend on Friday, March 7th, TickerTech Dividends reports. Shareholders of record on Friday, April 4th will be given a dividend of 0.52 per share on Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.48.

Toromont Industries Price Performance

Shares of TIH stock traded down C$0.11 during trading hours on Wednesday, hitting C$117.82. The stock had a trading volume of 23,117 shares, compared to its average volume of 146,965. The stock’s 50-day moving average price is C$117.81 and its two-hundred day moving average price is C$120.69. Toromont Industries has a one year low of C$109.83 and a one year high of C$135.53. The stock has a market capitalization of C$9.61 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38.

Analysts Set New Price Targets

Several brokerages have weighed in on TIH. Scotiabank boosted their price objective on Toromont Industries from C$132.00 to C$133.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. National Bank Financial upgraded shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. Royal Bank of Canada increased their price objective on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. National Bankshares raised their price target on Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, Canaccord Genuity Group lifted their target price on Toromont Industries from C$130.00 to C$134.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$136.06.

Insiders Place Their Bets

In related news, Senior Officer Jennifer Cochrane sold 5,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$121.25, for a total value of C$606,250.00. Also, Director Jeffrey Scott Chisholm acquired 4,500 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was purchased at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. 0.27% of the stock is currently owned by corporate insiders.

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.