Tootsie Roll Industries (NYSE:TR) Sets New 12-Month High - Time to 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. The stock had previously closed at $40.21.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut 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 company's fifty day moving average is $38.16 and its 200-day moving average is $34.47. The company has a market capitalization of $2.98 billion, a PE ratio of 32.73 and a beta of 0.46.

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

Institutional Trading of Tootsie Roll Industries

A number of institutional investors and hedge funds have recently modified their holdings of TR. Deutsche Bank AG acquired a new position in shares of Tootsie Roll Industries in the 4th quarter worth approximately $52,000. Evermay Wealth Management LLC purchased a new position in Tootsie Roll Industries during the first quarter worth about $58,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Tootsie Roll Industries in the second quarter valued at about $60,000. Quantbot Technologies LP raised its position in Tootsie Roll Industries by 105.5% during the first quarter. Quantbot Technologies LP now owns 2,207 shares of the company's stock worth $69,000 after acquiring an additional 1,133 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Tootsie Roll Industries by 14.1% during the second quarter. Signaturefd LLC now owns 2,262 shares of the company's stock worth $76,000 after buying an additional 280 shares in the last quarter. Hedge funds and other 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.