Amalgamated Bank Grows Position in The Toro Company (NYSE:TTC)

Amalgamated Bank grew its stake in shares of The Toro Company (NYSE:TTC) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,348 shares of the company’s stock after purchasing an additional 290 shares during the period. Amalgamated Bank owned approximately 0.06% of Toro worth $5,456,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. lifted its stake in shares of Toro by 1,204.8% in the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock valued at $25,000 after purchasing an additional 253 shares during the period. Rise Advisors LLC lifted its position in shares of Toro by 2,057.1% during the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after acquiring an additional 288 shares during the period. Principal Securities Inc. purchased a new stake in shares of Toro during the 4th quarter worth approximately $66,000. Headlands Technologies LLC acquired a new stake in shares of Toro in the 1st quarter worth approximately $66,000. Finally, Covestor Ltd increased its stake in Toro by 522.6% in the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after purchasing an additional 601 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Price Performance

NYSE:TTC opened at $84.91 on Friday. The Toro Company has a 12-month low of $77.15 and a 12-month high of $102.00. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 33.56 and a beta of 0.69. The company’s 50-day moving average is $90.38 and its two-hundred day moving average is $89.36. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. Research analysts expect that The Toro Company will post 4.16 EPS for the current year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 1.70%. Toro’s dividend payout ratio is presently 56.92%.

Wall Street Analyst Weigh In

A number of analysts have commented on TTC shares. Northland Securities reiterated a “market perform” rating and set a $100.00 target price on shares of Toro in a research report on Friday, September 6th. DA Davidson lowered their price objective on shares of Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Finally, Robert W. Baird dropped 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. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $93.33.

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.