Here’s our Pick of the Month

Article Excerpt

TOROMONT INDUSTRIES LTD. $55.38 (Toronto symbol TIH; TSINetwork Rating: Extra Risk) (416-667-5511;; Shares outstanding: 78.3 million; Market cap: $4.5 billion; Dividend yield: 1.4%) distributes a broad range of industrial equipment, including machinery made by Caterpillar Inc. It also makes refrigeration systems through its CIMCO business. In the three months ended September 30, 2017, the company’s earnings climbed 4.9%, to $49.4 million, or $0.63 a share, from $47.6 million, or $0.61 a share, a year earlier. In the quarter, revenue rose 14.6%, to $584.2 million from $509.8 million. The gain was thanks to improved sales for Toromont’s rental business and stronger demand from the mining industry for new industrial equipment. Sales in Canada and the U.S of CIMCO’s refrigeration systems. were also up. The company has now completed its acquisition of privately held Hewitt Group. Those new operations complement its existing Caterpillar branches in Ontario, Manitoba and Nunavut. As well, buying Hewitt will help Toromont profit from new mining and infrastructure projects in…

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