Insider Selling: Toromont Industries Ltd. (TSE:TIH) Director Sells 2,500 Shares of Stock

Toromont Industries Ltd. (TSE:TIH) Director David Allan Malinauskas sold 2,500 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00.

Toromont Industries Stock Performance

Shares of TIH opened at C$121.80 on Wednesday. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64. The company has a market capitalization of C$9.98 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 3.72 and a beta of 0.67. The company’s 50 day simple moving average is C$123.10 and its 200 day simple moving average is C$124.52. Toromont Industries Ltd. has a 1 year low of C$100.81 and a 1 year high of C$135.53.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Friday, September 6th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, September 6th. Toromont Industries’s payout ratio is 30.62%.

Analysts Set New Price Targets

A number of analysts recently commented on TIH shares. BMO Capital Markets boosted their price objective on shares of Toromont Industries from C$133.00 to C$136.00 in a report on Wednesday, July 24th. Royal Bank of Canada boosted their price objective on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. National Bankshares upped their price target on shares of Toromont Industries from C$132.00 to C$135.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Scotiabank set a C$136.00 price target on shares of Toromont Industries and gave the company a “sector perform” rating in a report on Wednesday, August 21st. Finally, CIBC reduced their price target on shares of Toromont Industries from C$130.00 to C$128.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Toromont Industries has an average rating of “Moderate Buy” and a consensus price target of C$137.13.

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.