Toromont Industries Ltd. (TSE:TIH) to Issue Quarterly Dividend of $0.48

Toromont Industries Ltd. (TSE:TIH - Get Free Report) announced a quarterly dividend on Monday, November 4th, Zacks reports. Investors of record on Friday, December 6th will be paid a dividend of 0.48 per share on Monday, January 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, December 6th.

Toromont Industries Trading Up 0.5 %

TSE:TIH traded up C$0.55 during trading hours on Wednesday, hitting C$119.56. 336,399 shares of the stock were exchanged, compared to its average volume of 106,486. The company has a market capitalization of C$9.79 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08. The company's 50 day moving average is C$127.23 and its two-hundred day moving average is C$124.56. Toromont Industries has a twelve month low of C$107.82 and a twelve month high of C$135.53.

Analyst Ratings Changes

TIH has been the subject of several recent research reports. Scotiabank dropped their price objective on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday. National Bankshares dropped their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday. Royal Bank of Canada reduced their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday. Raymond James dropped their target price on shares of Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday. Finally, BMO Capital Markets reduced their price target on Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of C$135.00.

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. In related news, Director David Allan Malinauskas sold 2,500 shares of the 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. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. Over the last ninety days, insiders sold 5,500 shares of company stock valued at $677,864. Company insiders own 0.27% of the company's stock.

About Toromont Industries

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.