Victory Capital Management Inc. Takes $267,000 Position in Tootsie Roll Industries, Inc. (NYSE:TR)

Key Points

• Victory Capital Management Inc. has acquired a new stake in Tootsie Roll Industries worth approximately $267,000, buying 8,492 shares during the first quarter.
• Tootsie Roll's stock is currently down 1.1% and has a market capitalization of $2.74 billion, with a recent trading range between a 52-week low of $26.78 and a high of $40.43.
• Wall Street analysts have recently downgraded Tootsie Roll Industries from a "buy" to a "hold" rating, reflecting concerns about future performance.

Victory Capital Management Inc. bought a new stake in shares of Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,492 shares of the company's stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Creative Financial Designs Inc. ADV increased its stake in shares of Tootsie Roll Industries by 4.6% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 7,373 shares of the company's stock worth $232,000 after acquiring an additional 324 shares during the last quarter. LPL Financial LLC increased its stake in shares of Tootsie Roll Industries by 5.4% in the 4th quarter. LPL Financial LLC now owns 7,859 shares of the company's stock worth $254,000 after acquiring an additional 404 shares during the last quarter. CWA Asset Management Group LLC increased its stake in shares of Tootsie Roll Industries by 3.0% in the 1st quarter. CWA Asset Management Group LLC now owns 17,397 shares of the company's stock worth $548,000 after acquiring an additional 506 shares during the last quarter. Sei Investments Co. increased its stake in shares of Tootsie Roll Industries by 2.5% in the 4th quarter. Sei Investments Co. now owns 28,194 shares of the company's stock worth $912,000 after acquiring an additional 695 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Tootsie Roll Industries by 5.8% in the 4th quarter. American Century Companies Inc. now owns 14,863 shares of the company's stock worth $481,000 after acquiring an additional 815 shares during the last quarter. Hedge funds and other institutional investors own 14.28% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Tootsie Roll Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 16th.

Tootsie Roll Industries Stock Down 1.1%

Shares of TR opened at $37.53 on Friday. The company has a market capitalization of $2.74 billion, a PE ratio of 30.09 and a beta of 0.44. Tootsie Roll Industries, Inc. has a 52-week low of $26.78 and a 52-week high of $40.43. The stock has a fifty day simple moving average of $35.55 and a two-hundred day simple moving average of $33.00.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.24 earnings per share for the quarter. The business had revenue of $153.19 million during the quarter. Tootsie Roll Industries had a return on equity of 10.42% and a net margin of 12.72%.

Tootsie Roll Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th were issued a dividend of $0.09 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Tootsie Roll Industries's dividend payout ratio is currently 28.80%.

About Tootsie Roll Industries

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.

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