Raymond James Financial Inc. Purchases Shares of 12,065 Tootsie Roll Industries, Inc. (NYSE:TR)

Raymond James Financial Inc. bought a new position in shares of Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,065 shares of the company's stock, valued at approximately $390,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Tootsie Roll Industries by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 2,109,375 shares of the company's stock worth $68,196,000 after purchasing an additional 211,129 shares in the last quarter. Bfsg LLC purchased a new stake in shares of Tootsie Roll Industries in the 4th quarter valued at approximately $5,543,000. Allspring Global Investments Holdings LLC raised its stake in shares of Tootsie Roll Industries by 3.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,140,100 shares of the company's stock valued at $37,179,000 after acquiring an additional 41,326 shares during the period. ExodusPoint Capital Management LP purchased a new stake in Tootsie Roll Industries during the 4th quarter worth approximately $1,139,000. Finally, JPMorgan Chase & Co. increased its stake in Tootsie Roll Industries by 278.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 26,567 shares of the company's stock worth $823,000 after buying an additional 19,547 shares during the period. Hedge funds and other institutional investors own 14.28% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Tootsie Roll Industries from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th.

Tootsie Roll Industries Stock Performance

NYSE TR traded up $0.26 during trading hours on Thursday, hitting $32.43. The company had a trading volume of 49,279 shares, compared to its average volume of 168,171. The business has a 50 day moving average of $31.67 and a 200-day moving average of $31.63. Tootsie Roll Industries, Inc. has a 1-year low of $26.78 and a 1-year high of $34.63. The company has a market cap of $2.32 billion, a PE ratio of 26.57 and a beta of 0.39.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $146.52 million during the quarter. Tootsie Roll Industries had a net margin of 12.14% and a return on equity of 10.23%.

Tootsie Roll Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.36 dividend on an annualized basis and a yield of 1.11%. Tootsie Roll Industries's dividend payout ratio (DPR) is currently 29.51%.

Tootsie Roll Industries 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.