Tootsie Roll Industries (NYSE:TR) Sets New 52-Week High - What's Next?

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report) reached a new 52-week high during trading on Tuesday . The company 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 upgraded shares of Tootsie Roll Industries from a "hold" rating to a "buy" rating in a report on Thursday.

Tootsie Roll Industries Stock Down 2.0 %

The company has a market capitalization of $2.35 billion, a P/E ratio of 26.89 and a beta of 0.39. The business has a fifty day moving average price of $31.64 and a 200 day moving average price of $31.60.

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

Tootsie Roll Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Wednesday, March 5th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.36 annualized dividend and a yield of 1.10%. Tootsie Roll Industries's dividend payout ratio (DPR) is currently 29.51%.

Hedge Funds Weigh In On Tootsie Roll Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Tootsie Roll Industries by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 107,907 shares of the company's stock valued at $3,397,000 after acquiring an additional 2,652 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tootsie Roll Industries by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,152,076 shares of the company's stock valued at $67,747,000 after buying an additional 42,701 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Tootsie Roll Industries in the first quarter valued at approximately $732,000. Evermay Wealth Management LLC bought a new stake in shares of Tootsie Roll Industries in the first quarter valued at approximately $58,000. Finally, Pacer Advisors Inc. increased its stake in Tootsie Roll Industries by 15.1% during the 1st quarter. Pacer Advisors Inc. now owns 6,259 shares of the company's stock worth $197,000 after acquiring an additional 822 shares during the period. 14.28% of the stock is currently owned by institutional investors and hedge funds.

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.