Tootsie Roll Industries (NYSE:TR) Posts Quarterly Earnings Results

Tootsie Roll Industries (NYSE:TR) issued its earnings results on Friday. The company reported $0.49 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $232.71 million for the quarter. Tootsie Roll Industries had a net margin of 12.99% and a return on equity of 10.65%.

Tootsie Roll Industries Stock Performance

Tootsie Roll Industries stock traded up $0.81 during midday trading on Friday, reaching $37.69. The stock had a trading volume of 142,097 shares, compared to its average volume of 173,992. The stock has a market capitalization of $2.75 billion, a P/E ratio of 29.20 and a beta of 0.43. The firm’s fifty day simple moving average is $40.47 and its 200-day simple moving average is $37.33. Tootsie Roll Industries has a 1-year low of $28.67 and a 1-year high of $44.27.

Tootsie Roll Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Tuesday, October 7th were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Tootsie Roll Industries’s dividend payout ratio (DPR) is presently 27.91%.

Institutional Trading of Tootsie Roll Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Tootsie Roll Industries by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 2,152,076 shares of the company’s stock worth $67,747,000 after buying an additional 42,701 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Tootsie Roll Industries by 75.4% in the second quarter. Geode Capital Management LLC now owns 472,180 shares of the company’s stock valued at $15,797,000 after acquiring an additional 203,042 shares during the last quarter. HFR Wealth Management LLC raised its holdings in Tootsie Roll Industries by 2.4% during the second quarter. HFR Wealth Management LLC now owns 292,969 shares of the company’s stock worth $9,800,000 after acquiring an additional 6,909 shares in the last quarter. Goldman Sachs Group Inc. boosted its position 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 valued at $6,769,000 after purchasing an additional 48,484 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in Tootsie Roll Industries during the second quarter valued at approximately $6,289,000. 14.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Tootsie Roll Industries in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy”.

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.