Toromont Industries - Symbol TIH on the Toronto Stock Exchange

Yesterday I bought a few shares of a company called Toromont Industries. The symbol is TIH. The company is based just outside of Toronto (in Concord). They are the primary Caterpillar dealership in Eastern Canada and also have design/build Cimco refrigeration systems. The sales are approximately $1.7 billion with over 3000 employees. They have been in business for several decades. A regular dividend of $0.48 is provided giving a yield of 2.1%.  They have a long history of increasing their dividend every year. The stock trades with a low volatility (0.78 - Google Finance).

I have been following this company since the early 2000's. They have an excellent operating record providing historically an ROE in the high teens. Yesterday they reported quarterly results. EPS was a very slightly disappointing (0.23 vs 0.25 expected). Sales were up 11%  year over year. Margins were down slightly. Due to the EPS coming in slightly worse than expected the stock is down a bit.

Finally, this company is somewhat cyclical but defensive as well due to the low volatility.