Tootsie Roll Industries (NYSE:TR) Posts Earnings Results

Tootsie Roll Industries (NYSE:TR) issued its quarterly earnings results on Friday. The company reported $0.18 earnings per share (EPS) for the quarter, FiscalAI reports. Tootsie Roll Industries had a return on equity of 10.20% and a net margin of 13.14%.The business had revenue of $154.22 million during the quarter.

Tootsie Roll Industries Price Performance

TR traded down $0.01 during trading on Friday, hitting $39.74. 99,672 shares of the stock traded hands, compared to its average volume of 161,694. Tootsie Roll Industries has a twelve month low of $34.44 and a twelve month high of $45.06. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 30.95 and a beta of 0.39. The business has a 50 day moving average price of $38.56 and a 200 day moving average price of $40.24.

Tootsie Roll Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 18th. Tootsie Roll Industries’s dividend payout ratio (DPR) is 28.12%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Tootsie Roll Industries in a report on Monday, June 15th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Hedge Funds Weigh In On Tootsie Roll Industries

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Tootsie Roll Industries during the 2nd quarter worth $84,370,000. Deutsche Bank AG bought a new position in Tootsie Roll Industries in the second quarter valued at about $129,000. Bank of New York Mellon Corp acquired a new position in Tootsie Roll Industries during the second quarter worth about $6,080,000. State of Wyoming bought a new position in shares of Tootsie Roll Industries in the second quarter worth about $75,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Tootsie Roll Industries in the 2nd quarter valued at approximately $1,021,000. Institutional investors own 14.28% of the company’s stock.

Tootsie Roll Industries Company 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.