Tootsie Roll Industries (NYSE:TR) Stock Falls 7.1% - Here's Why

Key Points

• Tootsie Roll Industries shares fell 7.1% to $34.56 during Friday trading, with volume below the stock’s average daily level.
• Despite the decline, Weiss Ratings upgraded the stock from “hold (C+)” to “buy (B-),” and MarketBeat reported a consensus “Buy” rating.
• The company reported quarterly earnings of $0.18 per share on $154.22 million in revenue and pays a quarterly dividend of $0.09, representing a 1.0% yield.

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report)'s stock price fell 7.1% during trading on Friday. The stock traded as low as $34.82 and last traded at $34.56. Approximately 129,463 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 166,739 shares. The stock had previously closed at $37.19.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Tootsie Roll Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, September 8th. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company presently has a consensus rating of "Buy".

Tootsie Roll Industries Price Performance

The firm has a market cap of $2.61 billion, a PE ratio of 27.07 and a beta of 0.41. The firm has a 50-day simple moving average of $38.70 and a 200 day simple moving average of $39.47.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last released its earnings results on Friday, August 7th. The company reported $0.18 earnings per share for the quarter. The firm had revenue of $154.22 million for the quarter. Tootsie Roll Industries had a net margin of 13.14% and a return on equity of 10.16%.

Tootsie Roll Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, October 7th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, October 7th. Tootsie Roll Industries's dividend payout ratio is 28.12%.

Hedge Funds Weigh In On Tootsie Roll Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its stake in shares of Tootsie Roll Industries by 138.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,904 shares of the company's stock worth $72,000 after acquiring an additional 1,104 shares during the last quarter. Brown Lisle Cummings Inc. increased its stake in shares of Tootsie Roll Industries by 1.2% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 28,095 shares of the company's stock worth $1,056,000 after purchasing an additional 320 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Tootsie Roll Industries in the 2nd quarter worth $2,669,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Tootsie Roll Industries in the 2nd quarter worth $179,000. Finally, Squarepoint Ops LLC bought a new position in Tootsie Roll Industries in the 2nd quarter worth $2,544,000. Institutional investors own 14.28% of the company's stock.

Tootsie Roll Industries Company Profile

Tootsie Roll Industries, Inc manufactures and sells confectionery products in the United States and internationally. Its portfolio includes chocolate, candy, gum and other sweets marketed under brands such as Tootsie Roll, Tootsie Pop, Dots, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes and Charms Blow Pop.

The company traces its origins to 1896, when Leo Hirschfield began producing candy in New York City. Tootsie Roll, one of its best-known products, was introduced in the late 19th century and named after Hirschfield's daughter, Clara, whose nickname was “Tootsie.” The company later expanded through brand development and acquisitions, building a broad portfolio of widely recognized confectionery products.

Tootsie Roll Industries is headquartered in Chicago, Illinois.

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