Tdam USA Inc. boosted its holdings in shares of Toro Co (NYSE:TTC) by 13.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,990 shares of the company’s stock after purchasing an additional 4,825 shares during the period. Tdam USA Inc.’s holdings in Toro were worth $2,518,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bruderman Asset Management LLC acquired a new stake in shares of Toro in the 2nd quarter valued at $121,000. Meeder Asset Management Inc. increased its stake in shares of Toro by 201.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,450 shares of the company’s stock valued at $148,000 after buying an additional 1,636 shares during the period. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Toro in the 2nd quarter valued at $175,000. NumerixS Investment Technologies Inc increased its stake in shares of Toro by 3,100.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,200 shares of the company’s stock valued at $192,000 after buying an additional 3,100 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Toro by 137.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,398 shares of the company’s stock valued at $205,000 after buying an additional 1,966 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.
NYSE:TTC opened at $59.55 on Monday. Toro Co has a 12-month low of $53.80 and a 12-month high of $67.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 1.71. The firm has a market capitalization of $6.26 billion, a PE ratio of 24.71 and a beta of 0.62.
Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, August 23rd. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.02. Toro had a return on equity of 46.89% and a net margin of 10.39%. The business had revenue of $655.80 million for the quarter, compared to analyst estimates of $664.75 million. During the same period last year, the company earned $0.61 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. Analysts forecast that Toro Co will post 2.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Wednesday, October 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. Toro’s dividend payout ratio is currently 33.20%.
TTC has been the subject of several research reports. Zacks Investment Research cut Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Dougherty & Co reissued a “buy” rating on shares of Toro in a research note on Monday, August 13th. Finally, ValuEngine upgraded Toro from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th.
In other Toro news, VP Amy E. Dahl sold 2,690 shares of Toro stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $60.76, for a total transaction of $163,444.40. Following the transaction, the vice president now directly owns 11,614 shares in the company, valued at $705,666.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kurt D. Svendsen sold 6,180 shares of Toro stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $60.55, for a total value of $374,199.00. The disclosure for this sale can be found here. Insiders sold a total of 60,326 shares of company stock worth $3,679,331 over the last 90 days. 5.32% of the stock is owned by corporate insiders.
The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.
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