Stock Pickers refreshes Toromont Industries buy
STOCK PICKERS Digest, in the July, 2017, issue, refreshes its buy of Toromont Industries Ltd., recently $46.01. Stock Pickers said buy 19 times from October, 1998, to April, 2011, at prices ranging from $16 to $37 (the stock split 2 for 1 in April, 2004). On June 1, 2011, old Toromont split into two new companies, one with the old name and symbol and the other a spin off called Enerflex. For portfolio purposes, we sold our old Toromont investment on the day of the spinoff, selling the $19,000 position at $31.06 for a profit of $18,165. We bought $1,000 worth of the new Toromont at $18.05. Stock Pickers then said buy 11 times from July, 2011, to March, 2017, at prices ranging from $18.99 to $46.80. Assuming a $1,000 investment for each new buy, the $12,000 position is now worth $21,532. Toromont makes industrial and refrigeration equipment. In the quarter ended March 31, 2017, it earned 34 cents a share, up from 31 cents a share a year earlier. Revenue rose to $412.3-million from $387.9-million. Stock Pickers says Toromont should benefit from an improving global economy, which in turn should enable further dividend increases. The dividend has been raised every year for the last 28 years and currently yields 1.7 per cent. Buy.
Jeffrey Scott Chisholm, Cathryn Elizabeth Cranston, Robert M Franklin, David Alexander Galloway, James Wendell Gill, Wayne S Hill, John S McCallum, Scott J Medhurst, Robert M Ogilvie, Katherine Anne Rethy
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