The Manufacturers Life Insurance Company Makes New Investment in Toro Corp. $TORO

The Manufacturers Life Insurance Company purchased a new position in shares of Toro Corp. (NASDAQ:TORO) in the 2nd quarter, Holdings Channel reports. The firm purchased 389,766 shares of the company’s stock, valued at approximately $37,971,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TORO. BlackRock Inc. acquired a new stake in shares of Toro in the second quarter valued at approximately $874,436,000. Bank of New York Mellon Corp bought a new position in Toro in the second quarter valued at $94,442,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Toro in the second quarter valued at $23,721,000. Algert Global LLC grew its position in Toro by 4,594.4% in the second quarter. Algert Global LLC now owns 241,760 shares of the company’s stock valued at $23,552,000 after purchasing an additional 236,610 shares in the last quarter. Finally, Ieq Capital LLC acquired a new stake in Toro in the 2nd quarter valued at $16,752,000. 1.74% of the stock is currently owned by institutional investors and hedge funds.

Toro Trading Down 1.3%

Shares of TORO opened at $6.16 on Thursday. The company’s fifty day simple moving average is $5.26 and its 200 day simple moving average is $4.78. Toro Corp. has a 1-year low of $2.64 and a 1-year high of $8.50. The company has a market cap of $132.26 million, a price-to-earnings ratio of 154.04 and a beta of 2.53.

Toro (NASDAQ:TORO) last announced its quarterly earnings results on Thursday, May 28th. The company reported ($0.02) EPS for the quarter. Toro had a net margin of 22.67% and a return on equity of 2.49%. The firm had revenue of $5.96 million during the quarter.

Wall Street Analysts Forecast Growth

TORO has been the topic of several analyst reports. Wall Street Zen raised shares of Toro to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings cut Toro from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

About Toro

Toro Corp., a shipping company, acquires, owns, charters, and operates oceangoing tanker vessels and provides seaborne transportation services for crude oil LPG, and refined petroleum products worldwide. The company operates in three segments: Aframax/LR2 Tanker, Handysize Tanker, and LPG Carrier. As of December 31, 2023, it operated a fleet of one Handysize tanker vessel; one Aframax/LR2 vessel; and four LPG carrier vessels with an aggregate cargo carrying capacity of 0.1 million deadweight ton.