Dynamic Capital Management Ltd Acquires New Stake in Toro Co (NYSE:TTC)

Dynamic Capital Management Ltd acquired a new stake in shares of Toro Co (NYSE:TTC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 27,889 shares of the company’s stock, valued at approximately $1,920,000. Toro comprises 6.9% of Dynamic Capital Management Ltd’s portfolio, making the stock its 2nd largest holding.

A number of other hedge funds have also recently bought and sold shares of the business. Murphy Pohlad Asset Management LLC increased its position in Toro by 1.2% during the first quarter. Murphy Pohlad Asset Management LLC now owns 11,778 shares of the company’s stock valued at $810,000 after acquiring an additional 139 shares during the last quarter. Securian Asset Management Inc increased its position in Toro by 1.2% during the first quarter. Securian Asset Management Inc now owns 12,930 shares of the company’s stock valued at $890,000 after acquiring an additional 149 shares during the last quarter. Private Capital Group LLC increased its position in Toro by 18.3% during the first quarter. Private Capital Group LLC now owns 1,106 shares of the company’s stock valued at $76,000 after acquiring an additional 171 shares during the last quarter. ETF Managers Group LLC increased its position in Toro by 8.1% during the first quarter. ETF Managers Group LLC now owns 2,309 shares of the company’s stock valued at $159,000 after acquiring an additional 174 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. increased its position in Toro by 1.7% during the first quarter. Piedmont Investment Advisors Inc. now owns 10,427 shares of the company’s stock valued at $718,000 after acquiring an additional 176 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

In related news, Director Janet Katherine Cooper sold 9,244 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $67.55, for a total value of $624,432.20. Following the completion of the sale, the director now directly owns 12,453 shares of the company’s stock, valued at $841,200.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert C. Buhrmaster sold 2,000 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $67.95, for a total transaction of $135,900.00. Following the completion of the sale, the director now directly owns 21,091 shares of the company’s stock, valued at $1,433,133.45. The disclosure for this sale can be found here. Insiders have sold 19,185 shares of company stock valued at $1,303,622 over the last three months. Insiders own 2.36% of the company’s stock.

A number of research firms have weighed in on TTC. Zacks Investment Research upgraded shares of Toro from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Thursday, April 11th. Sidoti set a $72.00 target price on shares of Toro and gave the company a “hold” rating in a research note on Tuesday. Finally, ValuEngine raised shares of Toro from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Toro presently has a consensus rating of “Hold” and a consensus price target of $69.00.

Shares of TTC opened at $68.19 on Thursday. The firm has a market cap of $7.31 billion, a PE ratio of 25.54 and a beta of 0.84. Toro Co has a 12-month low of $52.97 and a 12-month high of $75.13. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.90.

Toro (NYSE:TTC) last issued its earnings results on Thursday, May 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.04). The company had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $987.80 million. Toro had a net margin of 10.62% and a return on equity of 40.99%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 earnings per share. Analysts predict that Toro Co will post 2.93 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Tuesday, June 25th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Monday, June 24th. Toro’s dividend payout ratio is currently 33.71%.

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Toro Profile

The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

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Institutional Ownership by Quarter for Toro (NYSE:TTC)

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