Insider Selling: Toromont Industries Ltd (TIH) Insider Sells 5,400 Shares of Stock
Toromont Industries Ltd (TSE:TIH) insider David Allan Malinauskas sold 5,400 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of C$57.60, for a total transaction of C$311,040.00.
David Allan Malinauskas also recently made the following trade(s):
- On Wednesday, September 6th, David Allan Malinauskas sold 1,600 shares of Toromont Industries stock. The stock was sold at an average price of C$53.50, for a total transaction of C$85,600.00.
Shares of Toromont Industries Ltd (TSE TIH) traded up 0.12% on Friday, reaching $57.68. The company had a trading volume of 79,716 shares. The firm has a market capitalization of $4.53 billion and a price-to-earnings ratio of 28.44. Toromont Industries Ltd has a 52-week low of $38.35 and a 52-week high of $58.09. The company’s 50-day moving average price is $49.03 and its 200-day moving average price is $47.21.
Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Tuesday, July 25th. The company reported C$0.51 EPS for the quarter, missing analysts’ consensus estimates of C$0.55 by C($0.04). Toromont Industries had a net margin of 7.62% and a return on equity of 17.80%. The firm had revenue of C$530.93 million during the quarter, compared to analyst estimates of C$550.60 million. On average, analysts predict that Toromont Industries Ltd will post $2.13 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Thursday, September 7th.
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Several equities research analysts have recently issued reports on TIH shares. National Bank Financial raised their price objective on shares of Toromont Industries from C$55.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 5th. TD Securities raised their price objective on shares of Toromont Industries from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. raised their price objective on shares of Toromont Industries from C$55.00 to C$58.50 and gave the stock an “outperform” rating in a research note on Tuesday, August 29th. Scotiabank restated a “sector perform” rating and issued a C$48.50 price objective on shares of Toromont Industries in a research note on Wednesday, July 26th. Finally, Canaccord Genuity raised their price objective on shares of Toromont Industries from C$50.00 to C$58.00 and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Toromont Industries currently has a consensus rating of “Buy” and an average price target of C$55.64.
About Toromont Industries
Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.
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