JPMorgan Chase & Co. Raises Position in Tootsie Roll Industries, Inc. $TR

Key Points

• JPMorgan Chase & Co. increased its stake in Tootsie Roll by 130.4% in Q3, buying 34,450 shares to hold 60,864 shares worth about $2.55 million (≈0.08% of the company).
• Other institutions such as Principal Financial and Public Sector Pension also raised positions, and institutional investors now own roughly 14.28% of Tootsie Roll.
• Tootsie Roll last reported $0.39 EPS on $196.28M revenue, has a $3.28B market cap, pays a $0.09 quarterly dividend (annual $0.36, ~0.8% yield), and carries a consensus analyst rating of Hold.

JPMorgan Chase & Co. boosted its holdings in shares of Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) by 130.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,864 shares of the company's stock after buying an additional 34,450 shares during the period. JPMorgan Chase & Co. owned approximately 0.08% of Tootsie Roll Industries worth $2,551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in shares of Tootsie Roll Industries by 28.4% during the 3rd quarter. Principal Financial Group Inc. now owns 106,566 shares of the company's stock valued at $4,467,000 after acquiring an additional 23,564 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Tootsie Roll Industries by 34.6% during the third quarter. Public Sector Pension Investment Board now owns 76,663 shares of the company's stock worth $3,214,000 after purchasing an additional 19,699 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Tootsie Roll Industries by 607.6% in the second quarter. Quantbot Technologies LP now owns 15,617 shares of the company's stock worth $522,000 after purchasing an additional 13,410 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Tootsie Roll Industries in the third quarter worth approximately $219,000. Finally, Marble Harbor Investment Counsel LLC raised its stake in Tootsie Roll Industries by 11.4% in the third quarter. Marble Harbor Investment Counsel LLC now owns 15,108 shares of the company's stock valued at $633,000 after purchasing an additional 1,550 shares in the last quarter. 14.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Tootsie Roll Industries in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold".

Tootsie Roll Industries Stock Down 0.2%

Shares of TR stock opened at $43.66 on Monday. The business has a 50-day moving average price of $41.13 and a two-hundred day moving average price of $39.63. Tootsie Roll Industries, Inc. has a 12-month low of $29.13 and a 12-month high of $44.27. The firm has a market cap of $3.28 billion, a P/E ratio of 32.58 and a beta of 0.48.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.39 EPS for the quarter. The firm had revenue of $196.28 million for the quarter. Tootsie Roll Industries had a return on equity of 11.02% and a net margin of 13.81%.

Tootsie Roll Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 5th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, March 5th. Tootsie Roll Industries's dividend payout ratio (DPR) is presently 26.87%.

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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