David Allan Malinauskas Sells 2,500 Shares of Toromont Industries Ltd. (TSE:TIH) Stock

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

Toromont Industries Stock Performance

TSE TIH opened at C$120.31 on Thursday. The stock has a 50-day moving average of C$123.15 and a two-hundred day moving average of C$124.49. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. The company has a market cap of C$9.86 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.72 and a beta of 0.67. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Friday, September 6th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, September 6th. Toromont Industries’s payout ratio is presently 30.62%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TIH shares. Raymond James cut their price objective on Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating for the company in a research report on Friday, May 3rd. Royal Bank of Canada raised their price objective on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. BMO Capital Markets lifted their target price on Toromont Industries from C$133.00 to C$136.00 in a research report on Wednesday, July 24th. National Bankshares lifted their target price on Toromont Industries from C$132.00 to C$135.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, TD Securities lifted their target price on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.