Traders Buy High Volume of Put Options on Toro (NYSE:TTC)

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

TTC opened at $86.12 on Thursday. The company has a current ratio of 1.46, a quick ratio of 0.61 and a debt-to-equity ratio of 0.89. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 25.18 and a beta of 0.73. The company’s 50 day moving average is $88.58 and its 200 day moving average is $95.35. Toro has a 12-month low of $81.15 and a 12-month high of $118.13.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 21st. Stockholders of record on Wednesday, April 6th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, April 5th. Toro’s payout ratio is currently 35.09%.

In other Toro news, VP Richard W. Rodier sold 3,600 shares of the company’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of $85.95, for a total value of $309,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Boston Trust Walden Corp raised its position in shares of Toro by 16.0% during the first quarter. Boston Trust Walden Corp now owns 270,545 shares of the company’s stock valued at $23,128,000 after buying an additional 37,399 shares during the last quarter. Hartford Investment Management Co. purchased a new position in shares of Toro in the first quarter valued at $395,000. AE Wealth Management LLC purchased a new position in shares of Toro in the first quarter valued at $531,000. Norman Fields Gottscho Capital Management LLC purchased a new position in shares of Toro in the first quarter valued at $1,028,000. Finally, Dividend Assets Capital LLC grew its holdings in shares of Toro by 3.9% in the first quarter. Dividend Assets Capital LLC now owns 10,019 shares of the company’s stock valued at $857,000 after purchasing an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Several brokerages recently issued reports on TTC. StockNews.com initiated coverage on shares of Toro in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research raised shares of Toro from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Wednesday, March 9th. Finally, Robert W. Baird cut their price objective on shares of Toro from $120.00 to $110.00 in a research report on Monday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $95.67.

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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