Tootsie Roll Industries (NYSE:TR) Hits New 52-Week High - Time to Buy?

Key Points

• Tootsie Roll Industries (NYSE:TR) reached a new 52-week high of $44.11, with shares trading at $43.96 on a volume of 96,023.
• Analysts maintain a consensus rating of "Buy" for Tootsie Roll Industries, with Weiss Ratings reaffirming a "buy (b-)" rating.
• The company recently announced a quarterly dividend of $0.09 per share, leading to an annualized yield of 0.8% based on its 28.80% dividend payout ratio.

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $44.11 and last traded at $43.96, with a volume of 96023 shares changing hands. The stock had previously closed at $43.24.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Tootsie Roll Industries in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Tootsie Roll Industries currently has an average rating of "Buy".

Tootsie Roll Industries Price Performance

The firm has a market capitalization of $3.22 billion, a P/E ratio of 35.40 and a beta of 0.45. The business's 50-day moving average is $40.80 and its 200 day moving average is $36.41.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter. Tootsie Roll Industries had a net margin of 12.72% and a return on equity of 10.36%. The firm had revenue of $153.19 million for the quarter.

Tootsie Roll Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, October 7th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 7th. This represents a $0.36 annualized dividend and a yield of 0.8%. Tootsie Roll Industries's dividend payout ratio (DPR) is currently 28.80%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Tootsie Roll Industries by 42.0% during the 3rd quarter. CWM LLC now owns 1,394 shares of the company's stock worth $58,000 after purchasing an additional 412 shares during the last quarter. GAMMA Investing LLC raised its holdings in Tootsie Roll Industries by 23.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,243 shares of the company's stock worth $178,000 after purchasing an additional 813 shares during the last quarter. State of Wyoming bought a new position in Tootsie Roll Industries during the 2nd quarter worth approximately $111,000. Public Sector Pension Investment Board raised its holdings in Tootsie Roll Industries by 5.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 56,964 shares of the company's stock worth $1,905,000 after purchasing an additional 3,167 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in Tootsie Roll Industries by 8.6% during the 2nd quarter. California State Teachers Retirement System now owns 13,895 shares of the company's stock worth $465,000 after purchasing an additional 1,098 shares during the last quarter. 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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