Tootsie Roll Industries (NYSE:TR) Cut to “Hold” at StockNews.com

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

Tootsie Roll Industries Stock Performance

TR stock opened at $32.80 on Friday. The firm has a market cap of $2.35 billion, a P/E ratio of 26.89 and a beta of 0.39. The firm’s fifty day moving average is $31.68 and its 200 day moving average is $31.70. Tootsie Roll Industries has a 52 week low of $26.78 and a 52 week high of $34.63.

Tootsie Roll Industries (NYSE:TR) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.25 earnings per share (EPS) for the quarter. The business had revenue of $146.52 million during 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 business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.36 annualized dividend and a yield of 1.10%. Tootsie Roll Industries’s payout ratio is 29.51%.

Institutional Trading of Tootsie Roll Industries

Several hedge funds and other institutional investors have recently bought and sold shares of TR. Byrne Asset Management LLC purchased a new position in shares of Tootsie Roll Industries in the fourth quarter worth $27,000. Deutsche Bank AG bought a new stake in Tootsie Roll Industries in the 4th quarter worth $52,000. Evermay Wealth Management LLC purchased a new position in shares of Tootsie Roll Industries in the first quarter valued at about $58,000. Quantbot Technologies LP increased its position in shares of Tootsie Roll Industries by 105.5% in the first quarter. Quantbot Technologies LP now owns 2,207 shares of the company’s stock valued at $69,000 after acquiring an additional 1,133 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Tootsie Roll Industries during the fourth quarter valued at about $82,000. 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.