Tootsie Roll Industries (NYSE:TR) Releases Quarterly Earnings Results

Key Points

• Tootsie Roll Industries reported earnings of $0.24 per share for the last quarter, along with a revenue of $153.19 million, reflecting a return on equity of 10.42% and a net margin of 12.72%.
• The company's stock increased by 0.3% to $39.99, with a market capitalization of $2.92 billion and a P/E ratio of 32.06, while institutional ownership stands at 14.28%.
• Tootsie Roll recently announced a quarterly dividend of $0.09 per share, resulting in an annualized dividend of $0.36 and a dividend yield of 0.90%.

Tootsie Roll Industries (NYSE:TR - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.24 EPS for the quarter, Zacks reports. Tootsie Roll Industries had a net margin of 12.72% and a return on equity of 10.42%. The firm had revenue of $153.19 million for the quarter.

Tootsie Roll Industries Trading Down 1.9%

NYSE:TR traded down $0.77 during trading hours on Wednesday, hitting $38.74. 182,415 shares of the stock traded hands, compared to its average volume of 163,243. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 31.06 and a beta of 0.40. Tootsie Roll Industries has a fifty-two week low of $26.78 and a fifty-two week high of $40.43. The firm has a 50 day moving average price of $35.19 and a 200 day moving average price of $32.80.

Tootsie Roll Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th were issued a dividend of $0.09 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. Tootsie Roll Industries's dividend payout ratio is currently 28.80%.

Hedge Funds Weigh In On Tootsie Roll Industries

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in Tootsie Roll Industries by 29.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 215,015 shares of the company's stock valued at $6,769,000 after buying an additional 48,484 shares during the last quarter. AQR Capital Management LLC grew its position in Tootsie Roll Industries by 56.6% in the 1st quarter. AQR Capital Management LLC now owns 17,428 shares of the company's stock worth $549,000 after purchasing an additional 6,299 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Tootsie Roll Industries by 4.4% in the 1st quarter. Royal Bank of Canada now owns 67,993 shares of the company's stock worth $2,140,000 after purchasing an additional 2,893 shares during the last quarter. Institutional investors and hedge funds own 14.28% of the company's stock.

Analyst Upgrades and Downgrades

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

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.