Investors Purchase High Volume of Toro Put Options (NYSE:TTC)

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The Toro Company (NYSE:TTCGet Rating) was the target of unusually large options trading on Wednesday. Investors purchased 1,176 put options on the stock. This is an increase of 1,709% compared to the typical daily volume of 65 put options.

In other Toro news, VP Richard W. Rodier sold 3,600 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 the stock. Sageworth Trust Co of South Dakota purchased a new stake in shares of Toro during the 4th quarter worth $30,000. Quadrant Capital Group LLC increased its holdings in shares of Toro by 58.0% in the fourth quarter. Quadrant Capital Group LLC now owns 316 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the period. City State Bank acquired a new position in shares of Toro in the fourth quarter valued at about $33,000. Tobam increased its holdings in shares of Toro by 44.1% in the first quarter. Tobam now owns 523 shares of the company’s stock valued at $45,000 after purchasing an additional 160 shares during the period. Finally, CWM LLC acquired a new position in shares of Toro in the fourth quarter valued at about $47,000. Institutional investors own 82.56% of the company’s stock.

A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Toro from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. StockNews.com initiated coverage on Toro in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Robert W. Baird lowered their price target on Toro from $108.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $90.33.

NYSE:TTC opened at $80.99 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. Toro has a 1 year low of $74.29 and a 1 year high of $115.68. The stock’s 50 day simple moving average is $82.50 and its two-hundred day simple moving average is $91.64. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 23.68 and a beta of 0.72.

Toro (NYSE:TTCGet Rating) last released its earnings results on Thursday, March 3rd. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $932.70 million for the quarter, compared to the consensus estimate of $972.07 million. Toro had a return on equity of 31.17% and a net margin of 9.16%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. As a group, analysts anticipate that Toro will post 4.04 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 13th. Investors of record on Wednesday, June 22nd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, June 21st. Toro’s payout ratio is currently 35.09%.

Toro Company Profile (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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