Bank of New York Mellon Corp Buys New Shares in Tootsie Roll Industries, Inc. $TR

Key Points

• Bank of New York Mellon initiated a position in Tootsie Roll Industries by purchasing 153,717 shares valued at approximately $6.08 million, representing about 0.20% of the company.
• Several major institutional investors increased their holdings, while hedge funds and other institutions collectively owned 14.28% of Tootsie Roll’s outstanding stock.
• Tootsie Roll reported quarterly EPS of $0.18 on revenue of $154.22 million. The stock opened at $38.73, and analysts maintained a consensus “Hold” rating.

Bank of New York Mellon Corp bought a new position in Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 153,717 shares of the company's stock, valued at approximately $6,080,000. Bank of New York Mellon Corp owned about 0.20% of Tootsie Roll Industries at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TR. Vanguard Group Inc. increased its holdings in shares of Tootsie Roll Industries by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 2,164,370 shares of the company's stock valued at $79,281,000 after purchasing an additional 37,493 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Tootsie Roll Industries by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,152,714 shares of the company's stock worth $49,245,000 after purchasing an additional 26,653 shares during the period. State Street Corp lifted its holdings in shares of Tootsie Roll Industries by 5.1% during the fourth quarter. State Street Corp now owns 710,367 shares of the company's stock worth $26,084,000 after purchasing an additional 34,770 shares during the period. Geode Capital Management LLC boosted its position in Tootsie Roll Industries by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 584,303 shares of the company's stock valued at $21,406,000 after buying an additional 28,796 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Tootsie Roll Industries by 8.4% in the fourth quarter. Invesco Ltd. now owns 343,389 shares of the company's stock valued at $12,578,000 after buying an additional 26,573 shares during the last quarter. Hedge funds and other institutional investors own 14.28% of the company's stock.

Tootsie Roll Industries Stock Performance

TR stock opened at $38.73 on Friday. The firm has a market cap of $2.91 billion, a PE ratio of 30.16 and a beta of 0.41. The firm's fifty day moving average is $39.67 and its 200 day moving average is $40.51. Tootsie Roll Industries, Inc. has a one year low of $34.44 and a one year high of $45.06.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Tootsie Roll Industries in a research report on Monday, June 15th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock 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.

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