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

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $34.63 and last traded at $34.00, with a volume of 270835 shares traded. The stock had previously closed at $33.64.

Analyst Ratings Changes

Separately, StockNews.com cut Tootsie Roll Industries from a "buy" rating to a "hold" rating in a report on Friday, April 18th.

Tootsie Roll Industries Trading Up 1.1 %

The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 27.87 and a beta of 0.33. The firm's fifty day moving average price is $31.50 and its 200 day moving average price is $31.51.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.25 EPS for the quarter. The company had revenue of $146.52 million for the quarter. Tootsie Roll Industries had a return on equity of 10.23% and a net margin of 12.14%.

Tootsie Roll Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.36 annualized dividend and a dividend yield of 1.06%. Tootsie Roll Industries's dividend payout ratio is presently 29.51%.

Institutional Investors Weigh In On Tootsie Roll Industries

Several large investors have recently added to or reduced their stakes in TR. Vanguard Group Inc. grew its holdings in Tootsie Roll Industries by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 2,109,375 shares of the company's stock worth $68,196,000 after acquiring an additional 211,129 shares in the last quarter. Bfsg LLC acquired a new position in shares of Tootsie Roll Industries during the fourth quarter worth $5,543,000. Allspring Global Investments Holdings LLC increased its holdings in Tootsie Roll Industries by 9.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,242,619 shares of the company's stock valued at $39,229,000 after buying an additional 102,519 shares during the last quarter. GAMMA Investing LLC raised its stake in Tootsie Roll Industries by 3,573.7% in the first quarter. GAMMA Investing LLC now owns 66,383 shares of the company's stock valued at $2,109,000 after buying an additional 64,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Tootsie Roll Industries by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,573 shares of the company's stock worth $33,577,000 after buying an additional 37,924 shares during the last quarter. 14.28% of the stock is owned by hedge funds and other institutional investors.

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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