Toro Corp. (NASDAQ:TORO) Plans $1.75 Dividend

Toro Corp. (NASDAQ:TORO) announced a dividend on Friday, December 5th. Stockholders of record on Tuesday, December 16th will be paid a dividend of 1.75 per share on Friday, January 16th. The ex-dividend date is Tuesday, January 20th.

Toro Stock Performance

NASDAQ:TORO traded down $0.11 during mid-day trading on Friday, hitting $5.46. The stock had a trading volume of 129,424 shares, compared to its average volume of 103,032. Toro has a twelve month low of $1.70 and a twelve month high of $6.15. The stock has a market cap of $117.23 million, a price-to-earnings ratio of 136.53 and a beta of 1.14. The company’s 50 day simple moving average is $4.86 and its 200 day simple moving average is $3.78.

Hedge Funds Weigh In On Toro

Several hedge funds and other institutional investors have recently modified their holdings of the business. Founders Capital Management raised its position in shares of Toro by 28.6% during the fourth quarter. Founders Capital Management now owns 9,000 shares of the company’s stock worth $48,000 after acquiring an additional 2,000 shares during the last quarter. Group One Trading LLC acquired a new stake in Toro during the 3rd quarter valued at approximately $70,000. Finally, Citadel Advisors LLC bought a new position in Toro during the 3rd quarter worth approximately $79,000. Institutional investors own 1.74% of the company’s stock.

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.