Toromont Industries Ltd. (TSE:TIH) Declares Quarterly Dividend of $0.52

Toromont Industries Ltd. (TSE:TIH - Get Free Report) announced a quarterly dividend on Friday, March 7th, TickerTech Dividends reports. Stockholders of record on Friday, April 4th will be paid a dividend of 0.52 per share on Friday, April 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, March 7th. This is a 8.3% increase from Toromont Industries's previous quarterly dividend of $0.48.

Toromont Industries Trading Up 0.1 %

Shares of TSE TIH traded up C$0.09 during midday trading on Friday, reaching C$117.37. 154,278 shares of the stock were exchanged, compared to its average volume of 152,875. Toromont Industries has a twelve month low of C$109.83 and a twelve month high of C$135.53. 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 company has a 50 day simple moving average of C$117.94 and a 200 day simple moving average of C$120.59. The stock has a market capitalization of C$9.57 billion, a P/E ratio of 19.06, a PEG ratio of 3.72 and a beta of 0.68.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. National Bankshares lifted their target price on shares of Toromont Industries from C$126.00 to C$133.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. CIBC lifted their target price on shares of Toromont Industries from C$129.00 to C$131.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. National Bank Financial raised 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 raised their price target on shares of Toromont Industries from C$138.00 to C$139.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Finally, Raymond James raised their price target on shares of Toromont Industries from C$122.00 to C$130.00 and gave the company a "market perform" rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$136.06.

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Insider Transactions at Toromont Industries

In other news, Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$121.25, for a total transaction of C$606,250.00. Also, Director Jeffrey Scott Chisholm acquired 4,500 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average cost of C$111.45 per share, with a total value of C$501,525.00. Corporate 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.