Stock Pick­ers re­freshes Toromont In­dus­tries buy

Stockwatch Daily - - ENERGY -

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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