Stock traders buy large volume of put options on Toro (NYSE: TTC)
The Toro Company (NYSE:TTC – Get Rating) was the target of unusual options trades on Wednesday. Stock traders bought 1,176 put options on the company. This represents an increase of approximately 1,709% over the average volume of 65 put options.
Separately, Vice President Richard W. Rodier sold 3,600 Toro shares in a trade dated Friday, March 25. The stock was sold at an average price of $85.95, for a total value of $309,420.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders of the company own 2.10% of the shares of the company.
A number of institutional investors and hedge funds have recently bought and sold shares of TTC. Sageworth Trust Co of South Dakota bought a new position in Toro stock during the fourth quarter worth $30,000. Quadrant Capital Group LLC increased its stake in Toro by 58.0% in the fourth quarter. Quadrant Capital Group LLC now owns 316 shares of the company worth $32,000 after purchasing an additional 116 shares in the last quarter. City State Bank bought a new stake in Toro in Q4 for about $33,000. Kings Point Capital Management bought a new position in Toro in the third quarter worth about $41,000. Finally, Tobam increased its position in Toro by 44.1% in the first quarter. Tobam now owns 523 shares of the company worth $45,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds hold 82.56% of the company’s shares.
NYSE TTC opened at $83.87 on Thursday. The company has a debt ratio of 0.89, a current ratio of 1.46 and a quick ratio of 0.61. The stock has a market capitalization of $8.77 billion, a PE ratio of 24.52 and a beta of 0.72. Toro has a 1-year low of $79.30 and a 1-year high of $117.92. The company’s 50-day moving average is $85.69 and its 200-day moving average is $94.34.
Toro (NYSE:TTC – Get Rating) last released its quarterly results on Thursday, March 3. The company reported earnings per share of $0.66 for the quarter, beating Thomson Reuters consensus estimate of $0.65 by $0.01. The company posted revenue of $932.70 million for the quarter, compared to $972.07 million expected by analysts. Toro had a return on equity of 31.17% and a net margin of 9.16%. The company’s revenue for the quarter increased 6.8% on an annual basis. During the same period of the previous year, the company made earnings per share of $0.85. As a group, equity research analysts expect Toro to post earnings per share of 4.04 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 21. Shareholders of record on Wednesday, April 6 received a dividend of $0.30. The ex-dividend date was Tuesday, April 5. This represents a dividend of $1.20 on an annualized basis and a yield of 1.43%. Toro’s dividend payout ratio (DPR) is 35.09%.
Several analysts have recently released reports on TTC shares. Robert W. Baird reduced his target price on Toro from $120.00 to $110.00 in a Monday, February 28 research note. On Wednesday, Zacks Investment Research upgraded Toro from a “buy” to a “hold” rating in a research rating. Finally, StockNews.com began covering Toro in a research note on Thursday, March 31. They issued a “holding” rating on the stock. One investment analyst gave the stock a sell rating and four gave the company’s stock a hold rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.67.
About Toro (Get a rating)
The Toro Company engages in the design, manufacture, marketing and sale of professional and residential equipment worldwide. The Company’s Professional segment offers turf and landscaping equipment products, including sports field and field mowing and maintenance equipment, golf course mowing and maintenance equipment , mowing equipment for landscape contractors, equipment for creating and renovating landscapes and other maintenance equipment; rental, specialist and underground construction equipment; and snow and ice management equipment, such as snow plows, brushes, snow blowers, salt and sand spreaders, and related parts and accessories for light and medium trucks, vehicles utility vehicles, skid steer loaders and front loaders.
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