Toro Sees Unusually High Options Volume (NYSE:TTC)

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

Insider Buying and Selling

In related news, 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 transaction, the chief executive officer now directly owns 9,575 shares in the company, valued at $730,859.75. The sale was disclosed in a filing with the SEC, which is available through this link. In other Toro news, VP Amy E. Dahl sold 2,600 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $89.81, for a total value of $233,506.00. Following the transaction, the vice president now directly owns 18,706 shares in the company, valued at $1,679,985.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard M. Olson sold 12,600 shares of the company’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 completion of the transaction, the chief executive officer now owns 9,575 shares in the company, valued at $730,859.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,861 shares of company stock worth $2,598,046. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Select Equity Group L.P. increased its stake in shares of Toro by 13.9% in the first quarter. Select Equity Group L.P. now owns 5,269,614 shares of the company’s stock valued at $450,499,000 after buying an additional 642,703 shares during the period. Victory Capital Management Inc. increased its stake in shares of Toro by 15.9% in the second quarter. Victory Capital Management Inc. now owns 4,198,678 shares of the company’s stock valued at $318,218,000 after buying an additional 575,429 shares during the period. JPMorgan Chase & Co. increased its position in Toro by 17.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,230,806 shares of the company’s stock valued at $244,862,000 after purchasing an additional 476,439 shares during the period. State Street Corp increased its position in Toro by 2.8% during the 1st quarter. State Street Corp now owns 2,864,904 shares of the company’s stock valued at $244,921,000 after purchasing an additional 78,507 shares during the period. Finally, Mairs & Power Inc. increased its position in Toro by 5.0% during the 1st quarter. Mairs & Power Inc. now owns 2,859,373 shares of the company’s stock valued at $244,448,000 after purchasing an additional 135,384 shares during the period. Institutional investors and hedge funds own 85.24% of the company’s stock.

Toro Trading Down 1.9 %

Shares of Toro stock opened at $87.75 on Friday. Toro has a 52-week low of $71.86 and a 52-week high of $106.31. The firm has a 50-day moving average of $86.68 and a 200-day moving average of $83.41. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.66 and a current ratio of 1.59. The stock has a market cap of $9.14 billion, a PE ratio of 24.04 and a beta of 0.76.

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

Toro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Wednesday, October 5th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Tuesday, October 4th. Toro’s dividend payout ratio is currently 32.88%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TTC. Northcoast Research upgraded shares of Toro from a “neutral” rating to a “buy” rating in a report on Tuesday, September 6th. StockNews.com cut shares of Toro from a “buy” rating to a “hold” rating in a research report on Friday, September 16th. Finally, Robert W. Baird reduced their target price on shares of Toro from $108.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, May 31st.

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.