Tootsie Roll Industries (NYSE:TR) Sets New 12-Month High - Still a Buy?

Key Points

• Tootsie Roll Industries shares reached a new 52-week high of $40.97, closing at $40.76 with a trading volume of 33,156 shares.
• Analysts have downgraded Tootsie Roll from a "buy" to a "hold" rating, reflecting a cautious outlook on the stock despite its recent performance.
• The company announced a quarterly dividend of $0.09, yielding 0.9%, with a dividend payout ratio of 28.80% and a net margin of 12.72% reported for the last quarter.

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $40.97 and last traded at $40.76, with a volume of 33156 shares traded. The stock had previously closed at $40.21.

Analysts Set New Price Targets

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

Tootsie Roll Industries Trading Up 1.0%

The business's 50-day simple moving average is $37.61 and its 200-day simple moving average is $34.23. The company has a market cap of $2.96 billion, a PE ratio of 32.55 and a beta of 0.46.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.24 EPS for the quarter. Tootsie Roll Industries had a net margin of 12.72% and a return on equity of 10.36%. The company had revenue of $153.19 million during the quarter.

Tootsie Roll Industries Dividend Announcement

The firm also recently declared 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 was Wednesday, June 18th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Tootsie Roll Industries's dividend payout ratio is 28.80%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in Tootsie Roll Industries by 14.1% during the 2nd quarter. Signaturefd LLC now owns 2,262 shares of the company's stock worth $76,000 after acquiring an additional 280 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its holdings in shares of Tootsie Roll Industries by 3.0% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 10,684 shares of the company's stock worth $357,000 after buying an additional 310 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Tootsie Roll Industries by 1.6% in the 2nd quarter. Bank of Montreal Can now owns 19,372 shares of the company's stock worth $648,000 after buying an additional 312 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of 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 worth $232,000 after buying an additional 324 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC boosted its holdings in shares of Tootsie Roll Industries by 3.0% in the 2nd quarter. Marble Harbor Investment Counsel LLC now owns 13,558 shares of the company's stock worth $454,000 after buying an additional 391 shares during the last quarter. Institutional investors own 14.28% of the company's stock.

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.

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