Investors Buy Large Volume of Put Options on Toro (NYSE:TTC)

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The Toro Company (NYSE:TTCGet Rating) saw unusually large options trading activity on Wednesday. Stock traders bought 1,176 put options on the company. This represents an increase of 1,709% compared to the typical daily volume of 65 put options.

In related news, Director Janet Katherine Cooper sold 5,192 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $86.58, for a total value of $449,523.36. Following the sale, the director now directly owns 717 shares in the company, valued at approximately $62,077.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard W. Rodier sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $85.95, for a total transaction of $309,420.00. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of TTC. Sageworth Trust Co of South Dakota acquired a new stake in shares of Toro in the fourth quarter worth $30,000. Quadrant Capital Group LLC lifted its stake in shares of Toro by 58.0% in the fourth quarter. Quadrant Capital Group LLC now owns 316 shares of the company’s stock worth $32,000 after buying an additional 116 shares during the last quarter. City State Bank acquired a new stake in shares of Toro in the fourth quarter worth $33,000. Tobam lifted its stake in shares of Toro by 44.1% in the first quarter. Tobam now owns 523 shares of the company’s stock worth $45,000 after buying an additional 160 shares during the last quarter. Finally, CWM LLC acquired a new position in Toro during the 4th quarter valued at $47,000. 82.56% of the stock is owned by institutional investors.

A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Toro in a report on Thursday, March 31st. They set a “hold” rating on the stock. Robert W. Baird cut their price target on shares of Toro from $108.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, May 31st.

TTC traded down $4.50 on Thursday, reaching $75.12. 7,563 shares of the company traded hands, compared to its average volume of 541,015. The stock’s 50 day moving average price is $81.83 and its 200-day moving average price is $90.17. Toro has a 52-week low of $74.29 and a 52-week high of $115.68. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 23.77 and a beta of 0.72. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 0.70.

Toro (NYSE:TTCGet Rating) last announced its quarterly earnings data on Thursday, June 2nd. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. Toro had a net margin of 8.67% and a return on equity of 30.52%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Toro will post 4.1 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 13th. Shareholders of record on Wednesday, June 22nd will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, June 21st. Toro’s dividend payout ratio is 35.82%.

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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