Toro Target of Unusually Large Options Trading (NYSE:TTC)

The Toro Company (NYSE:TTC – Get Rating) saw some unusual options trading on Wednesday. Stock traders purchased 1,176 put options on the stock. This is an increase of 1,709% compared to the typical volume of 65 put options.

Toro Stock Up 0.1 %

Shares of NYSE:TTC opened at $111.15 on Friday. The firm has a market capitalization of $11.58 billion, a PE ratio of 30.45 and a beta of 0.76. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.66 and a current ratio of 1.59. Toro has a 52-week low of $71.86 and a 52-week high of $113.37. The firm has a fifty day moving average of $101.34 and a 200 day moving average of $89.46.

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

Toro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 18th. Stockholders of record on Wednesday, October 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, October 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.08%. Toro’s payout ratio is 32.88%.

Analyst Ratings Changes

TTC has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research report on Tuesday. Northcoast Research upgraded Toro from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 6th.

Insider Activity

In other news, VP Richard W. Rodier sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $91.43, for a total value of $365,720.00. Following the completion of the transaction, the vice president now directly owns 22,326 shares of the company’s stock, valued at $2,041,266.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Toro news, VP Amy E. Dahl sold 2,600 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $89.81, for a total value of $233,506.00. Following the completion of the transaction, the vice president now owns 18,706 shares in the company, valued at approximately $1,679,985.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard W. Rodier sold 4,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $91.43, for a total value of $365,720.00. Following the sale, the vice president now owns 22,326 shares in the company, valued at $2,041,266.18. The disclosure for this sale can be found here. Insiders sold a total of 22,371 shares of company stock valued at $2,014,232 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Toro

Several institutional investors and hedge funds have recently made changes to their positions in TTC. Coston McIsaac & Partners purchased a new stake in Toro during the second quarter valued at about $26,000. Castle Wealth Management LLC purchased a new stake in Toro during the 2nd quarter valued at about $27,000. Allworth Financial LP grew its position in Toro by 90.4% during the 3rd quarter. Allworth Financial LP now owns 316 shares of the company’s stock worth $27,000 after acquiring an additional 150 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Toro by 266.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 344 shares of the company’s stock worth $30,000 after purchasing an additional 250 shares during the period. Finally, IFP Advisors Inc lifted its position in Toro by 78.1% in the third quarter. IFP Advisors Inc now owns 495 shares of the company’s stock valued at $35,000 after purchasing an additional 217 shares during the last quarter. Institutional investors own 85.24% of the company’s stock.

About Toro

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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.