Tootsie Roll Industries (NYSE:TR) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Tootsie Roll Industries (NYSE:TR) from a buy rating to a hold rating in a report published on Friday.

Tootsie Roll Industries Stock Performance

Tootsie Roll Industries stock opened at $32.80 on Friday. Tootsie Roll Industries has a twelve month low of $26.78 and a twelve month high of $34.63. The firm has a market cap of $2.35 billion, a PE ratio of 26.89 and a beta of 0.39. The firm’s 50 day moving average price is $31.68 and its two-hundred day moving average price is $31.67.

Tootsie Roll Industries (NYSE:TR) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.25 earnings per share for the quarter. The business had revenue of $146.52 million for the quarter. Tootsie Roll Industries had a net margin of 12.14% and a return on equity of 10.23%.

Tootsie Roll Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.09 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.36 annualized dividend and a dividend yield of 1.10%. Tootsie Roll Industries’s dividend payout ratio is 29.51%.

Institutional Investors Weigh In On Tootsie Roll Industries

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Tootsie Roll Industries by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 2,109,375 shares of the company’s stock valued at $68,196,000 after acquiring an additional 211,129 shares during the last quarter. Bfsg LLC acquired a new position in shares of Tootsie Roll Industries during the 4th quarter worth $5,543,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Tootsie Roll Industries by 9.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,242,619 shares of the company’s stock valued at $39,229,000 after purchasing an additional 102,519 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Tootsie Roll Industries by 3,573.7% in the 1st quarter. GAMMA Investing LLC now owns 66,383 shares of the company’s stock valued at $2,109,000 after purchasing an additional 64,576 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Tootsie Roll Industries by 29.1% in the first quarter. Goldman Sachs Group Inc. now owns 215,015 shares of the company’s stock worth $6,769,000 after purchasing an additional 48,484 shares in the last quarter. Institutional investors own 14.28% of the company’s stock.

Tootsie Roll Industries Company Profile

Tootsie Roll Industries, Inc, together with its subsidiaries, engages in the manufacture and sale of confectionery products in the United States, Canada, Mexico, and internationally. It sells its products under the Tootsie Roll, Tootsie Fruit Rolls, Frooties, Tootsie Pops, Tootsie Mini Pops, Child's Play, Caramel Apple Pops, Charms, Blow-Pop, Charms Mini Pops, Cella's, Dots, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes, Fluffy Stuff, Dubble Bubble, Razzles, Cry Baby, NIK-L-NIP, and Tutsi Pop trademarks.