Irving Magee Investment Management Lowers stake in Toro Co (TTC)

Toro Co (TTC) : Irving Magee Investment Management reduced its stake in Toro Co by 0.26% during the most recent quarter end. The investment management company now holds a total of 55,817 shares of Toro Co which is valued at $4.8 Million after selling 143 shares in Toro Co , the firm said in a disclosure report filed with the SEC on May 11, 2016.Toro Co makes up approximately 2.51% of Irving Magee Investment Management’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp sold out all of its stake in TTC during the most recent quarter. The investment firm sold 3,864 shares of TTC which is valued $335,627. Nine Chapters Capital Management sold out all of its stake in TTC during the most recent quarter. The investment firm sold 5,200 shares of TTC which is valued $451,672.Gamco Investors Et Al reduced its stake in TTC by selling 3,200 shares or 6.86% in the most recent quarter. The Hedge Fund company now holds 43,480 shares of TTC which is valued at $3.8 Million. Toro Co makes up approx 0.02% of Gamco Investors Et Al’s portfolio.Carderock Capital Management Inc boosted its stake in TTC in the latest quarter, The investment management firm added 8,157 additional shares and now holds a total of 48,427 shares of Toro Co which is valued at $4.2 Million. Toro Co makes up approx 2.18% of Carderock Capital Management Inc’s portfolio.

Toro Co opened for trading at $87.21 and hit $88.94 on the upside on Monday, eventually ending the session at $88.35, with a gain of 1.72% or 1.49 points. The heightened volatility saw the trading volume jump to 2,18,029 shares. Company has a market cap of $4,811 M.

On the company’s financial health, Toro Co reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $0.58. The company had revenue of $486.40 million for the quarter, compared to analysts expectations of $489.76 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

The Toro Company (Toro) designs manufactures and markets professional turf maintenance equipment and services turf irrigation systems landscaping equipment and lighting agricultural micro-irrigation systems rental and construction equipment and residential yard and snow removal products. The Company sells its products across the world through a network of distributors dealers hardware retailers home centers mass retailers and over the Internet under the names of Toro Exmark Irritrol Hayter Pope Unique Lighting Systems Lawn-Boy and Lawn Genie. The Company operates in three business segments: Professional through which the Company designs professional turf landscape and agricultural products and markets them across the world; Residential which markets its residential products to homeowners and Distribution which consists of the Company’s owned domestic distributorships.

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