Engineers Gate Manager LP Acquires Shares of 67,484 Tootsie Roll Industries, Inc. $TR

Key Points

• Engineers Gate Manager LP acquired 67,484 shares of Tootsie Roll Industries during the second quarter, worth approximately $2.67 million and representing about 0.09% of the company.
• Several institutional investors increased or initiated positions, including BlackRock, California State Teachers Retirement System, and Dimensional Fund Advisors. Hedge funds and institutional investors collectively own 14.28% of Tootsie Roll’s shares.
• Tootsie Roll reported quarterly EPS of $0.18 on $154.22 million in revenue, while its shares opened at $38.80. Weiss Ratings upgraded the stock to “buy,” and MarketBeat lists an average analyst rating of “Buy.”

Engineers Gate Manager LP bought a new stake in shares of Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 67,484 shares of the company's stock, valued at approximately $2,669,000. Engineers Gate Manager LP owned approximately 0.09% of Tootsie Roll Industries at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Tootsie Roll Industries in the 2nd quarter worth about $84,370,000. Dimensional Fund Advisors LP boosted its stake in 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 acquiring an additional 26,653 shares in the last quarter. California State Teachers Retirement System grew its holdings in Tootsie Roll Industries by 3,834.4% in the second quarter. California State Teachers Retirement System now owns 687,933 shares of the company's stock worth $27,208,000 after purchasing an additional 670,448 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Tootsie Roll Industries by 1,369,340.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 301,277 shares of the company's stock worth $11,036,000 after purchasing an additional 301,255 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Tootsie Roll Industries by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 187,621 shares of the company's stock valued at $8,015,000 after purchasing an additional 1,039 shares in the last quarter. 14.28% of the stock is owned by hedge funds and other institutional investors.

Tootsie Roll Industries Trading Down 0.2%

NYSE TR opened at $38.80 on Tuesday. Tootsie Roll Industries, Inc. has a 12 month low of $34.44 and a 12 month high of $45.06. The stock's fifty day moving average price is $39.51 and its 200-day moving average price is $40.36. The stock has a market cap of $2.91 billion, a P/E ratio of 30.22 and a beta of 0.41.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Tootsie Roll Industries from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy".

Tootsie Roll Industries Profile

Tootsie Roll Industries, Inc is a confectionery company that manufactures and sells candy products in the United States and internationally. Founded in 1896 by Leo Hirschfield, the company is headquartered in Chicago, Illinois, and has built a portfolio of widely recognized brands sold through retail, grocery, convenience, and other distribution channels.

Its products include Tootsie Rolls and Tootsie Pops, along with Dubble Bubble, Charms, Junior Mints, DOTS, Sugar Babies, Sugar Daddy, Charleston Chew, Andes, and Cella's.

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