Public Sector Pension Investment Board Acquires 12,541 Shares of Tootsie Roll Industries, Inc. $TR

Key Points

• The Public Sector Pension Investment Board increased its stake in Tootsie Roll Industries by 30.4%, acquiring an additional 12,541 shares during the first quarter.
• Tootsie Roll Industries recently announced a quarterly dividend of $0.09, resulting in an annualized dividend yield of 0.9%.
• Analysts at Wall Street Zen downgraded Tootsie Roll Industries from a "buy" to a "hold" rating.

Public Sector Pension Investment Board raised its holdings in shares of Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) by 30.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,797 shares of the company's stock after buying an additional 12,541 shares during the period. Public Sector Pension Investment Board owned about 0.08% of Tootsie Roll Industries worth $1,694,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Deutsche Bank AG purchased a new position in shares of Tootsie Roll Industries in the fourth quarter valued at about $52,000. Evermay Wealth Management LLC purchased a new position in shares of Tootsie Roll Industries in the first quarter valued at about $58,000. Pacer Advisors Inc. increased its position in shares of 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 period. Balyasny Asset Management L.P. purchased a new position in shares of Tootsie Roll Industries in the fourth quarter valued at about $217,000. Finally, Creative Financial Designs Inc. ADV increased its position in shares of Tootsie Roll Industries by 4.6% in the first quarter. Creative Financial Designs Inc. ADV now owns 7,373 shares of the company's stock valued at $232,000 after acquiring an additional 324 shares during the period. 14.28% of the stock is currently owned by hedge funds and other institutional investors.

Tootsie Roll Industries Stock Up 0.7%

Shares of TR traded up $0.27 during trading hours on Tuesday, reaching $40.40. 151,669 shares of the company traded hands, compared to its average volume of 163,997. The company's fifty day moving average price is $37.10 and its two-hundred day moving average price is $33.94. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 32.39 and a beta of 0.44. Tootsie Roll Industries, Inc. has a 12 month low of $28.18 and a 12 month high of $40.61.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.24 earnings per share for the quarter. The firm had revenue of $153.19 million for the quarter. Tootsie Roll Industries had a net margin of 12.72% and a return on equity of 10.36%.

Tootsie Roll Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.36 annualized dividend and a yield of 0.9%. Tootsie Roll Industries's payout ratio is presently 28.80%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Tootsie Roll Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 16th.

Tootsie Roll Industries Company 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.