Skip to main content

The Toro Company (NYSE:TTC) Sees Significant Drop in Short Interest

Last updated on Saturday, April 17, 2021 | 2021 MarketBeat

The Toro Company (NYSE:TTC) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 793,200 shares, a decrease of 27.9% from the March 15th total of 1,100,000 shares. Based on an average daily trading volume, of 421,300 shares, the days-to-cover ratio is presently 1.9 days.

In other news, CEO Richard M. Olson sold 10,000 shares of the stock in a transaction on Thursday, March 25th. The shares were sold at an average price of $102.38, for a total transaction of $1,023,800.00. Following the transaction, the chief executive officer now owns 21,049 shares in the company, valued at approximately $2,154,996.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Blake M. Grams sold 16,100 shares of the stock in a transaction on Monday, March 8th. The stock was sold at an average price of $99.26, for a total transaction of $1,598,086.00. Following the transaction, the vice president now owns 10,600 shares in the company, valued at approximately $1,052,156. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,660 shares of company stock worth $3,404,841. Company insiders own 1.77% of the company's stock.

A number of large investors have recently added to or reduced their stakes in TTC. Paces Ferry Wealth Advisors LLC bought a new position in shares of The Toro in the third quarter worth $28,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in The Toro by 48.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 332 shares of the company's stock valued at $31,000 after buying an additional 108 shares during the period. Archer Investment Corp bought a new stake in The Toro during the fourth quarter valued at $39,000. Simon Quick Advisors LLC bought a new stake in The Toro during the fourth quarter valued at $44,000. Finally, Wolff Wiese Magana LLC bought a new stake in The Toro during the fourth quarter valued at $60,000. 80.54% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of The Toro from a "buy" rating to a "hold" rating in a research note on Saturday, March 6th. Bank of America began coverage on shares of The Toro in a research report on Monday, January 4th. They set a "neutral" rating and a $102.00 target price for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of "Hold" and a consensus price target of $101.33.

Shares of The Toro stock traded up $4.58 during midday trading on Friday, hitting $112.80. The company had a trading volume of 1,940,565 shares, compared to its average volume of 433,987. The business's 50 day simple moving average is $102.89 and its two-hundred day simple moving average is $94.90. The stock has a market cap of $12.14 billion, a PE ratio of 37.11, a P/E/G ratio of 2.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.67 and a quick ratio of 0.91. The Toro has a 1-year low of $57.89 and a 1-year high of $109.39.

The Toro (NYSE:TTC) last announced its quarterly earnings results on Wednesday, March 3rd. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.10. The Toro had a return on equity of 32.24% and a net margin of 9.76%. The business had revenue of $873.00 million for the quarter, compared to analyst estimates of $851.36 million. During the same quarter in the prior year, the company earned $0.64 earnings per share. The company's quarterly revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts expect that The Toro will post 3.46 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 20th. Investors of record on Monday, April 5th will be given a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, April 1st. The Toro's payout ratio is 34.77%.

About The Toro

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.

Read More: What is the definition of a trade war?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is the Consumer Price Index (CPI)?


7 Semiconductor Stocks Set to Gain From the Chip Shortage

Who knew that something so tiny could create such a big problem? However, that’s the case with the semiconductor industry. Chip manufacturers are facing supply chain disruptions due to the Covid-19 pandemic.

Semiconductors are in high demand for the big tech companies who need the chips to power the servers for their data centers. But they are also needed for much of the technology we take for granted including laptops, tablets, mobile phones, gaming consoles, and automobiles – a sector that seems to be at the root of the current crisis.

Any weekend mechanic knows that even traditional internal combustion cars are heavily reliant on electronics. In fact, electronic parts and components account for 40% of a new, internal combustion vehicle. That’s more than doubled since 2000.

However as it turns out, some manufacturers may have overestimated how soon consumers would be ready for an “all-electric” future. And that meant that they didn’t forecast how much demand there would be for the kind of chips needed to do the mundane, but vital tasks of steering, braking, and even powering windows up and down.

Part of the problem is that U.S. businesses are heavily reliant on countries like China and Taiwan for their semiconductors. In fact, only about 12.5% of semiconductor manufacturing is done in the United States.

Of course, this creates a tremendous opportunity for the companies that manufacture these chips. And it comes at a good time. The semiconductor sector is notoriously cyclical and was coming down from the elevated demand for the 5G buildout.

In this special presentation, we’ll give you a list of seven semiconductor companies that you can invest in to take advantage of this opportunity.

View the "7 Semiconductor Stocks Set to Gain From the Chip Shortage".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.