Allspring Global Investments Holdings LLC Sells 24,277 Shares of Tootsie Roll Industries, Inc. $TR

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Tootsie Roll Industries by 2.0%, selling 24,277 shares, and now holds 1.67% of the company, valued at approximately $42.4 million.
• Tootsie Roll Industries recently declared a quarterly dividend of $0.09 per share, translating to an annualized yield of 0.8%, with a payout ratio of 28.80%.
• Weiss Ratings reiterated a "buy (b-)" rating for Tootsie Roll Industries, which currently holds an average rating of "Buy" among analysts.

Allspring Global Investments Holdings LLC reduced its position in Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,218,342 shares of the company's stock after selling 24,277 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.67% of Tootsie Roll Industries worth $42,423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in TR. Goldman Sachs Group Inc. raised its holdings in shares of Tootsie Roll Industries by 29.1% in the first quarter. Goldman Sachs Group Inc. now owns 215,015 shares of the company's stock valued at $6,769,000 after acquiring an additional 48,484 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Tootsie Roll Industries by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,152,076 shares of the company's stock valued at $67,747,000 after acquiring an additional 42,701 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Tootsie Roll Industries in the first quarter valued at about $1,000,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Tootsie Roll Industries in the first quarter valued at about $856,000. Finally, XTX Topco Ltd purchased a new position in Tootsie Roll Industries in the first quarter valued at about $732,000. 14.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "buy (b-)" rating on shares of Tootsie Roll Industries in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy".

Tootsie Roll Industries Price Performance

TR opened at $43.22 on Thursday. The business's 50-day moving average is $40.80 and its two-hundred day moving average is $36.41. Tootsie Roll Industries, Inc. has a 1 year low of $28.32 and a 1 year high of $43.97. The firm has a market capitalization of $3.15 billion, a PE ratio of 34.65 and a beta of 0.45.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.24 earnings per share for the quarter. Tootsie Roll Industries had a return on equity of 10.36% and a net margin of 12.72%.The business had revenue of $153.19 million for the quarter.

Tootsie Roll Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, October 7th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. Tootsie Roll Industries's payout ratio is presently 28.80%.

About Tootsie Roll Industries

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.

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