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

Shares of Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $36.28 and last traded at $36.25, with a volume of 215463 shares trading hands. The stock had previously closed at $34.79.

Wall Street Analyst Weigh In

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

Tootsie Roll Industries Price Performance

The stock's fifty day simple moving average is $34.42 and its 200-day simple moving average is $32.47. The stock has a market cap of $2.72 billion, a P/E ratio of 30.54 and a beta of 0.40.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.25 earnings per share (EPS) for the quarter. The firm had revenue of $146.52 million for the quarter. Tootsie Roll Industries had a net margin of 12.53% and a return on equity of 10.29%.

Tootsie Roll Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.36 dividend on an annualized basis and a yield of 0.97%. Tootsie Roll Industries's payout ratio is currently 29.51%.

Institutional Investors Weigh In On Tootsie Roll Industries

Several hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its position in shares of Tootsie Roll Industries by 14.1% in the 2nd quarter. Signaturefd LLC now owns 2,262 shares of the company's stock valued at $76,000 after acquiring an additional 280 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in Tootsie Roll Industries by 4.6% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 7,373 shares of the company's stock valued at $232,000 after buying an additional 324 shares during the period. HighTower Advisors LLC grew its holdings in shares of Tootsie Roll Industries by 0.8% during the 4th quarter. HighTower Advisors LLC now owns 45,215 shares of the company's stock valued at $1,462,000 after purchasing an additional 377 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Tootsie Roll Industries by 5.4% during the 4th quarter. LPL Financial LLC now owns 7,859 shares of the company's stock valued at $254,000 after purchasing an additional 404 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in Tootsie Roll Industries by 3.0% during the 1st quarter. CWA Asset Management Group LLC now owns 17,397 shares of the company's stock worth $548,000 after acquiring an additional 506 shares during the last quarter. 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.