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

Key Points

• Tootsie Roll Industries reported quarterly earnings of $0.18 per share on revenue of $151.94 million. The company also posted a net margin of 13.70% and return on equity of 10.77%.
• The stock traded down to $37.74 on Friday, with a market cap of $2.84 billion. It remains well below its 52-week high of $45.06 and above its 52-week low of $34.44.
• The company paid a quarterly dividend of $0.09 per share, equal to an annualized yield of about 1.0%. Weiss Ratings reaffirmed a hold (C+) rating, and the stock’s consensus analyst rating is also Hold.

Tootsie Roll Industries (NYSE:TR - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.18 earnings per share for the quarter, Zacks reports. The company had revenue of $151.94 million for the quarter. Tootsie Roll Industries had a net margin of 13.70% and a return on equity of 10.77%.

Tootsie Roll Industries Stock Performance

Shares of NYSE:TR traded down $0.18 during midday trading on Friday, reaching $37.74. The company's stock had a trading volume of 10,574 shares, compared to its average volume of 171,057. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 28.23 and a beta of 0.39. The firm has a 50 day moving average price of $38.62 and a two-hundred day moving average price of $40.08. Tootsie Roll Industries has a fifty-two week low of $34.44 and a fifty-two week high of $45.06.

Tootsie Roll Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Tootsie Roll Industries's dividend payout ratio (DPR) is 26.87%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tootsie Roll Industries in a research report on Monday, June 15th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Tootsie Roll Industries presently has a consensus rating of "Hold".

Institutional Investors Weigh In On Tootsie Roll Industries

Large investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in Tootsie Roll Industries in the fourth quarter valued at approximately $58,000. iSAM Funds UK Ltd acquired a new stake in shares of Tootsie Roll Industries during the 3rd quarter worth approximately $136,000. Russell Investments Group Ltd. increased its stake in shares of Tootsie Roll Industries by 29,407.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,836 shares of the company's stock valued at $161,000 after acquiring an additional 3,823 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Tootsie Roll Industries by 9.7% in the 3rd quarter. Parallel Advisors LLC now owns 4,115 shares of the company's stock valued at $173,000 after acquiring an additional 364 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Tootsie Roll Industries in the 2nd quarter valued at $183,000. Institutional investors and hedge funds own 14.28% of the company's stock.

About Tootsie Roll Industries

Tootsie Roll Industries, Inc is a U.S.-based confectionery company best known for producing Tootsie Rolls and Tootsie Pops. Headquartered in Chicago, the company manufactures a broad range of candy products, including fruit-flavored chews, gummies, mints and gum, under a portfolio of well-recognized brands. Its offerings are sold through mass-market retailers, convenience stores, specialty shops and vending channels.

The company traces its origins to 1896 when confectioner Leo Hirschfeld invented the Tootsie Roll in New York City.

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