Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, April 24, 2015

Article Excerpt

TOROMONT INDUSTRIES LTD., $32.47, symbol TIH on Toronto, distributes a wide range of industrial equipment, including machinery made by Caterpillar Inc. It also makes refrigeration systems through its CIMCO division. In the three months ended March 31, 2015, Toromont’s revenue rose 9.1%, to $340.2 million from $311.7 million a year earlier. Earnings gained 8.1%, to $20.1 million, or $0.26 a share, from $18.6 million or $0.24. The first quarter is typically the company’s slowest because of winter shutdowns in the construction industry. Toromont saw stronger demand from customers in construction and agriculture, which offset continued weak mining sales. It also cut costs. The stock trades at 18.0 times Toromont’s forecast 2015 earnings of $1.80 a share. The company is raising its quarterly dividend by 13.3% with the April 2015 payment, to $0.17 a share from $0.15. The stock now yields 2.1%. Toromont has raised its dividend every year for 26 years. Toromont is still a buy. Toromont was recently covered in the Stock…