Tootsie Roll Industries (NYSE:TR) Hits New 12-Month High - Here's What Happened

Key Points

• Tootsie Roll Industries' stock reached a new 52-week high of $41.36 during trading, closing at $41.35 with a trading volume of 21,882 shares.
• Wall Street Zen recently downgraded Tootsie Roll Industries from a "buy" to a "hold" rating, indicating a shift in analysts' outlook.
• The company reported $0.24 earnings per share for the last quarter, with a revenue of $153.19 million and a market capitalization of $3.02 billion.

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $41.36 and last traded at $41.35, with a volume of 21882 shares trading hands. The stock had previously closed at $40.82.

Wall Street Analyst Weigh In

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

Tootsie Roll Industries Stock Performance

The business has a fifty day moving average of $38.16 and a 200-day moving average of $34.50. The company has a market capitalization of $3.02 billion, a P/E ratio of 33.04 and a beta of 0.46.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last announced its earnings results 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 10.36% and a net margin of 12.72%.The firm had revenue of $153.19 million during the quarter.

Institutional Trading of Tootsie Roll Industries

Several large investors have recently modified their holdings of TR. Northern Trust Corp grew its stake in shares of Tootsie Roll Industries by 5.4% in the fourth quarter. Northern Trust Corp now owns 92,250 shares of the company's stock worth $2,982,000 after purchasing an additional 4,712 shares during the last quarter. Jane Street Group LLC lifted its holdings in Tootsie Roll Industries by 9.8% in the fourth quarter. Jane Street Group LLC now owns 142,030 shares of the company's stock worth $4,592,000 after buying an additional 12,635 shares during the period. BNP Paribas Financial Markets lifted its holdings in Tootsie Roll Industries by 43.4% in the fourth quarter. BNP Paribas Financial Markets now owns 10,697 shares of the company's stock worth $346,000 after buying an additional 3,237 shares during the period. Bank of America Corp DE lifted its holdings in Tootsie Roll Industries by 3.8% in the fourth quarter. Bank of America Corp DE now owns 181,978 shares of the company's stock worth $5,883,000 after buying an additional 6,585 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in Tootsie Roll Industries in the fourth quarter worth about $217,000. 14.28% of the stock is owned by institutional investors.

About Tootsie Roll Industries

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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