Stock Traders Purchase Large Volume of Put Options on Toro (NYSE:TTC)

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The Toro Company (NYSE:TTCGet Rating) was the target of some unusual options trading on Wednesday. Stock traders acquired 1,176 put options on the company. This represents an increase of approximately 1,709% compared to the average volume of 65 put options.

In other news, VP Richard W. Rodier sold 3,600 shares of Toro stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $85.95, for a total value of $309,420.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of TTC. Sageworth Trust Co of South Dakota bought a new position in shares of Toro during the fourth quarter valued at $30,000. Quadrant Capital Group LLC increased its holdings in Toro by 58.0% in the 4th quarter. Quadrant Capital Group LLC now owns 316 shares of the company’s stock worth $32,000 after buying an additional 116 shares in the last quarter. City State Bank bought a new stake in Toro in the 4th quarter worth about $33,000. Kings Point Capital Management purchased a new position in Toro in the third quarter worth about $41,000. Finally, Tobam boosted its position in Toro by 44.1% in the first quarter. Tobam now owns 523 shares of the company’s stock worth $45,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 82.56% of the company’s stock.

NYSE TTC opened at $83.87 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.46 and a quick ratio of 0.61. The stock has a market capitalization of $8.77 billion, a PE ratio of 24.52 and a beta of 0.72. Toro has a 1 year low of $79.30 and a 1 year high of $117.92. The business’s 50-day moving average is $85.69 and its 200 day moving average is $94.34.

Toro (NYSE:TTCGet Rating) last issued its quarterly earnings results on Thursday, March 3rd. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $932.70 million for the quarter, compared to analysts’ expectations of $972.07 million. Toro had a return on equity of 31.17% and a net margin of 9.16%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. As a group, equities research analysts anticipate that Toro will post 4.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 21st. Shareholders of record on Wednesday, April 6th were issued a $0.30 dividend. The ex-dividend date was Tuesday, April 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.43%. Toro’s dividend payout ratio (DPR) is 35.09%.

Several analysts recently issued reports on TTC shares. Robert W. Baird cut their target price on Toro from $120.00 to $110.00 in a research note on Monday, February 28th. Zacks Investment Research cut Toro from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, started coverage on Toro in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.67.

About Toro (Get Rating)

The Toro Company engages in the designing, manufacturing, marketing, and selling professional and residential equipment worldwide. The company’s Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment; and snow and ice management equipment, such as snowplows, brush, snow thrower attachment, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

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