Apollon Wealth Management LLC Invests $275,000 in Tootsie Roll Industries, Inc. (NYSE:TR)

Apollon Wealth Management LLC purchased a new stake in shares of Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 8,742 shares of the company's stock, valued at approximately $275,000.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Tootsie Roll Industries by 5.6% in the 1st quarter. Principal Financial Group Inc. now owns 83,291 shares of the company's stock valued at $2,622,000 after buying an additional 4,382 shares during the period. Teacher Retirement System of Texas purchased a new stake in Tootsie Roll Industries in the 1st quarter valued at about $1,000,000. Allspring Global Investments Holdings LLC boosted its position in Tootsie Roll Industries by 9.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,242,619 shares of the company's stock valued at $39,229,000 after buying an additional 102,519 shares during the period. Creative Financial Designs Inc. ADV boosted its position in Tootsie Roll Industries by 4.6% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 7,373 shares of the company's stock valued at $232,000 after buying an additional 324 shares during the period. Finally, Brown Lisle Cummings Inc. boosted its position in Tootsie Roll Industries by 3.3% in the 1st quarter. Brown Lisle Cummings Inc. now owns 36,464 shares of the company's stock valued at $1,148,000 after buying an additional 1,165 shares during the period. 14.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Tootsie Roll Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 16th.

Tootsie Roll Industries Stock Performance

Tootsie Roll Industries stock traded up $0.73 during trading hours on Thursday, hitting $39.89. The company had a trading volume of 240,621 shares, compared to its average volume of 346,428. The firm has a market cap of $2.91 billion, a P/E ratio of 32.68 and a beta of 0.40. Tootsie Roll Industries, Inc. has a 1 year low of $26.78 and a 1 year high of $39.92. The company has a 50-day moving average price of $34.94 and a two-hundred day moving average price of $32.66.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter. Tootsie Roll Industries had a net margin of 12.53% and a return on equity of 10.29%.

Tootsie Roll Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th were given a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. Tootsie Roll Industries's payout ratio is presently 29.51%.

Tootsie Roll Industries 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.