Robertson Stephens Wealth Management LLC Makes New Investment in Tootsie Roll Industries, Inc. $TR

Robertson Stephens Wealth Management LLC bought a new position in shares of Tootsie Roll Industries, Inc. (NYSE:TR) during the fourth quarter, Holdings Channel reports. The fund bought 25,475 shares of the company’s stock, valued at approximately $935,000.

A number of other institutional investors also recently bought and sold shares of TR. Millennium Management LLC raised its stake in Tootsie Roll Industries by 121.9% during the third quarter. Millennium Management LLC now owns 328,323 shares of the company’s stock worth $13,763,000 after purchasing an additional 180,351 shares during the period. Invesco Ltd. raised its stake in Tootsie Roll Industries by 98.1% during the third quarter. Invesco Ltd. now owns 316,816 shares of the company’s stock worth $13,281,000 after purchasing an additional 156,929 shares during the period. Goldman Sachs Group Inc. raised its stake in Tootsie Roll Industries by 29.1% during 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 during the period. First Trust Advisors LP raised its stake in Tootsie Roll Industries by 115.2% during the second quarter. First Trust Advisors LP now owns 87,085 shares of the company’s stock worth $2,913,000 after purchasing an additional 46,609 shares during the period. Finally, Vanguard Group Inc. raised its stake in Tootsie Roll Industries by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 2,164,370 shares of the company’s stock worth $79,281,000 after purchasing an additional 37,493 shares during the period. 14.28% of the stock is owned by hedge funds and other institutional investors.

Tootsie Roll Industries Price Performance

Shares of TR stock opened at $42.43 on Monday. The firm’s 50-day moving average is $42.42 and its two-hundred day moving average is $39.76. Tootsie Roll Industries, Inc. has a 12 month low of $31.59 and a 12 month high of $45.06. The company has a market capitalization of $3.19 billion, a PE ratio of 31.66 and a beta of 0.45.

Tootsie Roll Industries (NYSE:TR) last issued its earnings results on Friday, February 27th. The company reported $0.39 EPS for the quarter. Tootsie Roll Industries had a net margin of 13.81% and a return on equity of 11.02%. The company had revenue of $196.28 million for the quarter.

Tootsie Roll Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 5th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. Tootsie Roll Industries’s payout ratio is 26.87%.

Tootsie Roll Industries Profile

Tootsie Roll Industries, Inc is a U.S.-based confectionery company best known for producing Tootsie Rolls and Tootsie Pops. Headquartered in Chicago, the company manufactures a broad range of candy products, including fruit-flavored chews, gummies, mints and gum, under a portfolio of well-recognized brands. Its offerings are sold through mass-market retailers, convenience stores, specialty shops and vending channels.

The company traces its origins to 1896 when confectioner Leo Hirschfeld invented the Tootsie Roll in New York City.