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. acquired a new position in shares of Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,492 shares of the company's stock, valued at approximately $267,000.

Other hedge funds also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. acquired a new stake in Tootsie Roll Industries in the fourth quarter valued at approximately $394,000. Man Group plc purchased a new position in shares of Tootsie Roll Industries during the fourth quarter valued at approximately $389,000. Teacher Retirement System of Texas purchased a new position in shares of Tootsie Roll Industries during the first quarter valued at approximately $1,000,000. Two Sigma Advisers LP boosted its position in shares of Tootsie Roll Industries by 72.0% during the fourth quarter. Two Sigma Advisers LP now owns 45,148 shares of the company's stock valued at $1,460,000 after buying an additional 18,900 shares during the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in shares of Tootsie Roll Industries during the first quarter valued at approximately $275,000. 14.28% of the stock is currently owned by institutional investors.

Tootsie Roll Industries Price Performance

Shares of TR traded up $0.42 during mid-day trading on Wednesday, hitting $39.03. The stock had a trading volume of 44,756 shares, compared to its average volume of 162,968. The firm has a market cap of $2.85 billion, a P/E ratio of 31.20 and a beta of 0.44. The business has a fifty day moving average price of $35.71 and a 200-day moving average price of $33.10. Tootsie Roll Industries, Inc. has a 52 week low of $26.78 and a 52 week high of $40.43.

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

Tootsie Roll Industries Dividend Announcement

The business 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, June 18th. Tootsie Roll Industries's payout ratio is presently 28.80%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut 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.