BlackRock Inc. bought a new stake in Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,133,246 shares of the company's stock, valued at approximately $84,370,000. BlackRock Inc. owned approximately 2.84% of Tootsie Roll Industries as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in TR. Vanguard Group Inc. boosted its stake 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 buying an additional 37,493 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Tootsie Roll Industries by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,152,714 shares of the company's stock worth $49,245,000 after acquiring an additional 26,653 shares in the last quarter. State Street Corp lifted its holdings in Tootsie Roll Industries by 5.1% in the fourth quarter. State Street Corp now owns 710,367 shares of the company's stock valued at $26,084,000 after acquiring an additional 34,770 shares during the period. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 28,796 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Tootsie Roll Industries by 8.4% during the 4th quarter. Invesco Ltd. now owns 343,389 shares of the company's stock worth $12,578,000 after purchasing an additional 26,573 shares in the last quarter. 14.28% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tootsie Roll Industries in a research note on Monday, June 15th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Tootsie Roll Industries presently has an average rating of "Hold".
Check Out Our Latest Stock Analysis on Tootsie Roll Industries
Tootsie Roll Industries Price Performance
NYSE TR opened at $41.24 on Friday. The business has a 50 day moving average price of $39.42 and a 200 day moving average price of $40.53. The company has a market capitalization of $3.10 billion, a P/E ratio of 32.12 and a beta of 0.39. Tootsie Roll Industries, Inc. has a 1-year low of $34.44 and a 1-year high of $45.06.
Tootsie Roll Industries (NYSE:TR - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $0.18 earnings per share 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%.
Tootsie Roll Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, June 18th. Tootsie Roll Industries's dividend payout ratio (DPR) is 28.12%.
Tootsie Roll Industries Company Profile
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Free Report)
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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