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

The Toro Company (NYSE:TTCGet Rating) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 1,176 put options on the company. This is an increase of 1,709% compared to the typical daily volume of 65 put options.

Toro Stock Down 0.6 %

TTC stock opened at $89.48 on Thursday. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 24.52 and a beta of 0.76. The company has a current ratio of 1.59, a quick ratio of 0.66 and a debt-to-equity ratio of 0.77. Toro has a 12 month low of $71.86 and a 12 month high of $106.31. The firm has a 50-day moving average of $86.52 and a two-hundred day moving average of $83.37.

Toro (NYSE:TTCGet Rating) last released its quarterly earnings data on Thursday, September 1st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Toro had a net margin of 8.97% and a return on equity of 32.35%. Toro’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. As a group, analysts forecast that Toro will post 4.2 earnings per share for the current fiscal year.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Wednesday, October 5th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.34%. Toro’s dividend payout ratio is currently 32.88%.

Insider Activity

In other news, VP Daryn A. Walters sold 1,670 shares of the business’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $76.68, for a total transaction of $128,055.60. Following the sale, the vice president now directly owns 1,415 shares of the company’s stock, valued at $108,502.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Daryn A. Walters sold 1,670 shares of the business’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $76.68, for a total transaction of $128,055.60. Following the sale, the vice president now directly owns 1,415 shares of the company’s stock, valued at $108,502.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard M. Olson sold 12,600 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $76.33, for a total transaction of $961,758.00. Following the sale, the chief executive officer now directly owns 9,575 shares in the company, valued at $730,859.75. The disclosure for this sale can be found here. Insiders have sold 30,861 shares of company stock valued at $2,598,046 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Toro

Hedge funds and other institutional investors have recently made changes to their positions in the company. Coston McIsaac & Partners purchased a new position in shares of Toro during the 2nd quarter worth approximately $26,000. Castle Wealth Management LLC purchased a new position in shares of Toro during the 2nd quarter worth approximately $27,000. City State Bank purchased a new position in shares of Toro during the 4th quarter worth approximately $33,000. Neo Ivy Capital Management purchased a new position in shares of Toro during the 2nd quarter worth approximately $42,000. Finally, Tobam boosted its position in shares of Toro by 44.1% during the 1st quarter. Tobam now owns 523 shares of the company’s stock worth $45,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 85.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Robert W. Baird cut their price target on Toro from $108.00 to $94.00 and set a “neutral” rating for the company in a research note on Tuesday, May 31st. Northcoast Research raised Toro from a “neutral” rating to a “buy” rating in a report on Tuesday, September 6th. Finally, StockNews.com cut Toro from a “buy” rating to a “hold” rating in a report on Friday, September 16th.

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.

Read More

Receive News & Ratings for Toro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toro and related companies with MarketBeat.com's FREE daily email newsletter.