Tootsie Roll Industries (NYSE:TR) Hits New 1-Year 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%.

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

Wall Street Analyst Weigh In

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

Tootsie Roll Industries Stock Performance

The company's 50 day simple moving average is $36.83 and its 200 day simple moving average is $33.83. The stock has a market cap of $2.94 billion, a PE ratio of 32.24 and a beta of 0.44.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $153.19 million during 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 announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders 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%.

Institutional Trading of Tootsie Roll Industries

A number of large investors have recently added to or reduced their stakes in TR. Deutsche Bank AG purchased a new position in Tootsie Roll Industries in the fourth quarter valued at about $52,000. Ameritas Investment Partners Inc. bought a new stake in shares of Tootsie Roll Industries in the 2nd quarter worth approximately $60,000. Evermay Wealth Management LLC purchased a new position in Tootsie Roll Industries in the first quarter valued at approximately $58,000. Quantbot Technologies LP grew its holdings in Tootsie Roll Industries by 105.5% during the first 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 period. Finally, Signaturefd LLC grew its holdings in Tootsie Roll Industries by 14.1% during the second 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 period. Hedge funds and other institutional investors 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.

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