Toro Co (TTC) to Issue Quarterly Dividend of $0.23

Toro Co (NYSE:TTC) declared a quarterly dividend on Tuesday, May 21st, RTT News reports. Shareholders of record on Tuesday, June 25th will be paid a dividend of 0.225 per share on Thursday, July 11th. This represents a $0.90 dividend on an annualized basis and a yield of 1.25%.

Toro has increased its dividend payment by an average of 17.0% annually over the last three years. Toro has a dividend payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Toro to earn $3.38 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 26.6%.

NYSE TTC traded up $0.98 on Tuesday, reaching $71.93. 265,010 shares of the company’s stock traded hands, compared to its average volume of 416,197. Toro has a 12 month low of $52.97 and a 12 month high of $75.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.65 and a quick ratio of 0.92. The stock has a market capitalization of $7.57 billion, a P/E ratio of 26.94 and a beta of 0.76.

Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, February 21st. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Toro had a net margin of 11.55% and a return on equity of 44.47%. The business had revenue of $603.00 million for the quarter, compared to analysts’ expectations of $575.05 million. During the same period last year, the business earned $0.48 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts expect that Toro will post 2.98 earnings per share for the current fiscal year.

In other Toro news, Director Gary Lee Ellis sold 15,108 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $68.60, for a total transaction of $1,036,408.80. Following the completion of the transaction, the director now owns 43,861 shares of the company’s stock, valued at $3,008,864.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert C. Buhrmaster sold 9,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $67.27, for a total value of $605,430.00. Following the transaction, the director now directly owns 25,091 shares of the company’s stock, valued at approximately $1,687,871.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,293 shares of company stock worth $4,048,661. 2.36% of the stock is currently owned by company insiders.

Several research firms recently weighed in on TTC. Zacks Investment Research upgraded shares of Toro from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. ValuEngine upgraded shares of Toro from a “hold” rating to a “buy” rating in a report on Friday, February 22nd.

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Toro Company 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.

Further Reading: Quiet Period Expirations

Dividend History for Toro (NYSE:TTC)

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