Olympiad Research LP Boosts Position in The Toro Company (NYSE:TTC)

Olympiad Research LP grew its holdings in The Toro Company (NYSE:TTC) by 86.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,921 shares of the company’s stock after acquiring an additional 2,281 shares during the period. Olympiad Research LP’s holdings in Toro were worth $427,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Boston Trust Walden Corp lifted its stake in shares of Toro by 3.0% in the 2nd quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock valued at $30,396,000 after purchasing an additional 9,371 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Toro by 27.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 54,458 shares of the company’s stock valued at $4,990,000 after buying an additional 11,661 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Toro by 4.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 141,730 shares of the company’s stock worth $12,987,000 after acquiring an additional 6,350 shares during the last quarter. Kennedy Capital Management LLC boosted its stake in Toro by 20.2% during the 1st quarter. Kennedy Capital Management LLC now owns 138,568 shares of the company’s stock worth $12,697,000 after purchasing an additional 23,270 shares during the last quarter. Finally, Gabelli Funds LLC grew its stake in Toro by 19.6% during the 1st quarter. Gabelli Funds LLC now owns 55,000 shares of the company’s stock valued at $5,040,000 after acquiring an additional 9,000 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TTC. Northland Securities reissued a “market perform” rating and issued a $100.00 price target on shares of Toro in a research note on Friday, September 6th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Robert W. Baird decreased their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, DA Davidson cut their target price on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.33.

Toro Price Performance

Shares of NYSE TTC opened at $84.85 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The company has a market cap of $8.71 billion, a PE ratio of 22.27 and a beta of 0.69. The stock has a fifty day moving average price of $84.59 and a 200 day moving average price of $88.29. The Toro Company has a 1-year low of $77.15 and a 1-year high of $102.00.

Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Sell-side analysts forecast that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio is currently 37.80%.

About Toro

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The 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, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.