Baird Financial Group Inc. Has $1.48 Million Stock Holdings in Tootsie Roll Industries, Inc. $TR

Key Points

• Baird Financial Group Inc. significantly increased its stake in Tootsie Roll Industries, acquiring an additional 22,027 shares, bringing its total holdings to 46,934 shares, valued at approximately $1,477,000.
• Other institutional investors have also boosted their positions in Tootsie Roll, with Allspring Global Investments increasing its holdings by 9.0% and GAMMA Investing raising its stake by an astounding 3,573.7%.
• Tootsie Roll Industries' stock opened at $41.16 and has a market capitalization of $3.00 billion, with a 12-month trading range between $28.18 and $41.50.

Baird Financial Group Inc. lifted its holdings in Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) by 88.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,934 shares of the company's stock after buying an additional 22,027 shares during the quarter. Baird Financial Group Inc. owned about 0.07% of Tootsie Roll Industries worth $1,477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TR. Deutsche Bank AG acquired a new position in shares of Tootsie Roll Industries during the 4th quarter worth about $52,000. Evermay Wealth Management LLC bought a new position in Tootsie Roll Industries during the 1st quarter worth $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 worth $69,000 after purchasing an additional 1,133 shares during the period. Pacer Advisors Inc. grew its position in Tootsie Roll Industries by 15.1% in the first quarter. Pacer Advisors Inc. now owns 6,259 shares of the company's stock valued at $197,000 after acquiring an additional 822 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Tootsie Roll Industries during the fourth quarter worth about $217,000. 14.28% of the stock is currently owned by institutional investors and hedge funds.

Tootsie Roll Industries Stock Up 0.3%

Tootsie Roll Industries stock traded up $0.14 during midday trading on Friday, reaching $40.06. 145,259 shares of the stock traded hands, compared to its average volume of 157,703. The stock's fifty day moving average is $38.71 and its 200-day moving average is $34.78. Tootsie Roll Industries, Inc. has a 12 month low of $28.18 and a 12 month high of $41.56. The stock has a market cap of $2.92 billion, a P/E ratio of 32.11 and a beta of 0.46.

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 for the quarter. The business had revenue of $153.19 million during the quarter. Tootsie Roll Industries had a return on equity of 10.36% and a net margin of 12.72%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Tootsie Roll Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 16th.

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.