Insider Selling: Toromont Industries Ltd. (TSE:TIH) Senior Officer Sells 5,000 Shares of Stock

Toromont Industries Ltd. (TSE:TIH) Senior Officer Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction on Monday, May 12th. The stock was sold at an average price of C$116.00, for a total transaction of C$580,000.00.

Jennifer Cochrane also recently made the following trade(s):

• On Monday, March 17th, Jennifer Cochrane sold 5,000 shares of Toromont Industries stock. The shares were sold at an average price of C$115.00, for a total value of C$575,000.00.
• On Friday, February 28th, Jennifer Cochrane sold 5,000 shares of Toromont Industries stock. The stock was sold at an average price of C$121.25, for a total value of C$606,250.00.

Toromont Industries Price Performance

TSE:TIH opened at C$117.45 on Friday. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The company has a 50 day moving average price of C$113.93 and a 200-day moving average price of C$115.97. Toromont Industries Ltd. has a 1-year low of C$107.32 and a 1-year high of C$134.88. The firm has a market cap of C$9.58 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Toromont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, April 4th were issued a $0.52 dividend. This is a boost from Toromont Industries’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, March 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.77%. Toromont Industries’s payout ratio is presently 31.18%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Raymond James cut their price objective on Toromont Industries from C$130.00 to C$122.00 and set a “market perform” rating on the stock in a report on Friday, May 2nd. Royal Bank of Canada increased their price target on shares of Toromont Industries from C$138.00 to C$139.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets decreased their price objective on shares of Toromont Industries from C$130.00 to C$128.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. CIBC dropped their price objective on shares of Toromont Industries from C$130.00 to C$120.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Finally, National Bankshares raised their target price on shares of Toromont Industries from C$126.00 to C$133.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Toromont Industries presently has a consensus rating of “Moderate Buy” and an average price target of C$129.63.

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.