Tootsie Roll Industries, Inc. $TR Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) by 29.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,348 shares of the company's stock after selling 142,802 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.46% of Tootsie Roll Industries worth $14,993,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 valued at $11,036,000 after acquiring an additional 301,255 shares in the last quarter. Millennium Management LLC increased its position in shares of Tootsie Roll Industries by 121.9% during the third quarter. Millennium Management LLC now owns 328,323 shares of the company's stock worth $13,763,000 after purchasing an additional 180,351 shares in the last quarter. Invesco Ltd. increased its position in shares of Tootsie Roll Industries by 98.1% during the third quarter. Invesco Ltd. now owns 316,816 shares of the company's stock worth $13,281,000 after purchasing an additional 156,929 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Tootsie Roll Industries in the 4th quarter valued at $3,077,000. Finally, Goldman Sachs Group Inc. raised its stake in Tootsie Roll Industries by 29.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 215,015 shares of the company's stock valued at $6,769,000 after purchasing an additional 48,484 shares during the last quarter. 14.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Tootsie Roll Industries Price Performance

Shares of Tootsie Roll Industries stock opened at $38.97 on Wednesday. The stock's 50 day simple moving average is $38.69 and its 200-day simple moving average is $40.04. The stock has a market cap of $2.93 billion, a P/E ratio of 29.15 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 announced its quarterly earnings data on Friday, May 8th. The company reported $0.24 EPS for the quarter. The firm had revenue of $151.54 million for the quarter. Tootsie Roll Industries had a return on equity of 10.77% and a net margin of 13.70%.

Tootsie Roll Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Tootsie Roll Industries's payout ratio is presently 26.87%.

Tootsie Roll Industries Profile

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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