Tootsie Roll Industries (NYSE:TR) Reaches New 12-Month High - Here's Why

Key Points

• Tootsie Roll Industries' shares reached a new 52-week high at $40.61, with a recent trading price of $40.37.
• Wall Street analysts downgraded Tootsie Roll Industries from a "buy" rating to a "hold," indicating reduced confidence in the stock's performance.
• The company recently declared a quarterly dividend of $0.09 per share, representing an annualized payout of $0.36 and a dividend yield of 0.9%.

Shares of Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $40.61 and last traded at $40.37, with a volume of 50884 shares traded. The stock had previously closed at $40.07.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Tootsie Roll Industries from a "buy" rating to a "hold" rating in a report on Friday, May 16th.

Tootsie Roll Industries Price Performance

The stock has a market cap of $2.94 billion, a P/E ratio of 32.27 and a beta of 0.44. The company has a fifty day moving average of $37.50 and a 200 day moving average of $34.12.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.24 EPS for the quarter. The firm had revenue of $153.19 million for the quarter. Tootsie Roll Industries had a return on equity of 10.36% 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. Shareholders of record on Thursday, June 19th were given a $0.09 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.36 annualized dividend and a yield of 0.9%. Tootsie Roll Industries's payout ratio is 28.80%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TR. Deutsche Bank AG purchased a new position in Tootsie Roll Industries during the 4th quarter worth approximately $52,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Tootsie Roll Industries in the 2nd quarter valued at $60,000. Evermay Wealth Management LLC acquired a new stake in shares of Tootsie Roll Industries in the 1st quarter valued at $58,000. Quantbot Technologies LP lifted its stake in shares of Tootsie Roll Industries by 105.5% in the 1st quarter. Quantbot Technologies LP now owns 2,207 shares of the company's stock valued at $69,000 after purchasing an additional 1,133 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Tootsie Roll Industries by 14.1% in the 2nd quarter. Signaturefd LLC now owns 2,262 shares of the company's stock valued at $76,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 14.28% of the company's stock.

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.