Allspring Global Investments Holdings LLC Sells 472,999 Shares of Tootsie Roll Industries, Inc. $TR

Key Points

• Allspring Global Investments Holdings LLC sold 472,999 shares of Tootsie Roll in Q4, cutting its stake by 49.1% to 491,150 shares (about 0.67% of the company, valued at roughly $17.39M).
• Tootsie Roll has a market cap of $3.28 billion and a P/E of 32.58; it reported $0.39 EPS on $196.28M revenue last quarter and pays a quarterly dividend of $0.09 (annualized $0.36, yield 0.8%).
• Analyst sentiment is muted—Weiss Ratings reiterated a "Hold (c+)" and the consensus rating is Hold—while institutional ownership remains relatively low at 14.28%.

Allspring Global Investments Holdings LLC decreased its holdings in shares of Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) by 49.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 491,150 shares of the company's stock after selling 472,999 shares during the period. Allspring Global Investments Holdings LLC owned about 0.67% of Tootsie Roll Industries worth $17,392,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TR. NBT Bank N A NY bought a new stake in Tootsie Roll Industries during the 3rd quarter worth approximately $39,000. CWM LLC increased its position in Tootsie Roll Industries by 42.0% in the 3rd quarter. CWM LLC now owns 1,394 shares of the company's stock valued at $58,000 after acquiring an additional 412 shares in the last quarter. State of Wyoming bought a new position in shares of Tootsie Roll Industries in the second quarter worth about $111,000. iSAM Funds UK Ltd bought a new position in shares of Tootsie Roll Industries in the third quarter worth about $136,000. Finally, Strs Ohio acquired a new position in shares of Tootsie Roll Industries during the third quarter worth approximately $143,000. 14.28% of the stock is currently owned by institutional investors and hedge funds.

Tootsie Roll Industries Price Performance

Shares of NYSE:TR opened at $43.66 on Friday. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 32.58 and a beta of 0.48. The company has a 50 day moving average of $41.13 and a 200-day moving average of $39.64. Tootsie Roll Industries, Inc. has a one year low of $29.13 and a one year high of $44.27.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.39 earnings per share for the quarter. Tootsie Roll Industries had a net margin of 13.81% and a return on equity of 11.02%. The business had revenue of $196.28 million for the quarter.

Tootsie Roll Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 5th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, March 5th. Tootsie Roll Industries's dividend payout ratio is currently 26.87%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Tootsie Roll Industries in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Tootsie Roll Industries presently has a consensus rating of "Hold".

About Tootsie Roll Industries

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.