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

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Tootsie Roll Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 16th.

Tootsie Roll Industries Price Performance

The firm has a market cap of $2.65 billion, a PE ratio of 29.70 and a beta of 0.40. The business has a 50-day moving average price of $34.17 and a two-hundred day moving average price of $32.37.

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

Tootsie Roll Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Wednesday, June 18th. Tootsie Roll Industries's payout ratio is 29.51%.

Hedge Funds Weigh In On Tootsie Roll Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Tootsie Roll Industries by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 2,109,375 shares of the company's stock valued at $68,196,000 after acquiring an additional 211,129 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Tootsie Roll Industries by 9.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,242,619 shares of the company's stock valued at $39,229,000 after acquiring an additional 102,519 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Tootsie Roll Industries by 3,573.7% in the 1st quarter. GAMMA Investing LLC now owns 66,383 shares of the company's stock valued at $2,109,000 after acquiring an additional 64,576 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Tootsie Roll Industries by 29.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 215,015 shares of the company's stock worth $6,769,000 after buying an additional 48,484 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake 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 institutional investors and hedge funds.

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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