89,062 Shares in Tootsie Roll Industries, Inc. $TR Bought by Bank of America Corp DE

Key Points

• Bank of America bought 89,062 shares of Tootsie Roll Industries in the second quarter, valued at approximately $3.52 million and representing about 0.12% of the company. BlackRock also acquired a significant new position worth roughly $84.4 million.
• Tootsie Roll reported quarterly revenue of $154.22 million and earnings of $0.18 per share, with a 13.14% net margin and 10.16% return on equity.
• The company declared a quarterly dividend of $0.09 per share, or $0.36 annually, yielding approximately 0.9%. Weiss Ratings upgraded the stock to “buy,” while shares recently traded at $37.94.

Bank of America Corp DE purchased a new position in shares of Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 89,062 shares of the company's stock, valued at approximately $3,522,000. Bank of America Corp DE owned about 0.12% of Tootsie Roll Industries as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Tootsie Roll Industries in the second quarter valued at approximately $84,370,000. Dimensional Fund Advisors LP grew its position in shares of Tootsie Roll Industries by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,152,714 shares of the company's stock worth $49,245,000 after buying an additional 26,653 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Tootsie Roll Industries by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 187,621 shares of the company's stock valued at $8,015,000 after acquiring an additional 1,039 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Tootsie Roll Industries by 3.0% in the 1st quarter. Gabelli Funds LLC now owns 99,395 shares of the company's stock valued at $4,246,000 after acquiring an additional 2,895 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in shares of Tootsie Roll Industries by 2.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 72,249 shares of the company's stock valued at $3,086,000 after acquiring an additional 1,813 shares during the period. 14.28% of the stock is owned by institutional investors.

Tootsie Roll Industries Price Performance

Shares of NYSE TR opened at $37.94 on Wednesday. The company has a 50-day moving average price of $39.32 and a 200-day moving average price of $40.02. The stock has a market capitalization of $2.85 billion, a P/E ratio of 29.54 and a beta of 0.41. Tootsie Roll Industries, Inc. has a 1 year low of $34.44 and a 1 year high of $45.06.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported $0.18 earnings per share for the quarter. Tootsie Roll Industries had a net margin of 13.14% and a return on equity of 10.16%. The company had revenue of $154.22 million for the quarter.

Tootsie Roll Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, October 7th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, October 7th. Tootsie Roll Industries's dividend payout ratio (DPR) is 28.12%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Tootsie Roll Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy".

About Tootsie Roll Industries

Tootsie Roll Industries, Inc is a confectionery company that manufactures and sells candy products in the United States and internationally. Founded in 1896 by Leo Hirschfield, the company is headquartered in Chicago, Illinois, and has built a portfolio of widely recognized brands sold through retail, grocery, convenience, and other distribution channels.

Its products include Tootsie Rolls and Tootsie Pops, along with Dubble Bubble, Charms, Junior Mints, DOTS, Sugar Babies, Sugar Daddy, Charleston Chew, Andes, and Cella's.

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