Tootsie Roll Industries (NYSE:TR) Sets New 52-Week High - Still a Buy?

Key Points

• Tootsie Roll Industries' stock reached a new 52-week high of $42.19, with a closing price of $42.16 and a market capitalization of $3.07 billion.
• The company recently announced a quarterly dividend of $0.09 per share, resulting in an annualized yield of 0.9% and a dividend payout ratio of 28.80%.
• Large institutional investors have been actively increasing their positions in Tootsie Roll, with notable purchases from firms like Vanguard and Goldman Sachs.

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $42.19 and last traded at $42.16, with a volume of 29652 shares changing hands. The stock had previously closed at $41.26.

Tootsie Roll Industries Stock Performance

The stock's 50-day moving average price is $39.86 and its 200-day moving average price is $35.52. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 33.88 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 earnings per share for the quarter. The firm had revenue of $153.19 million during the quarter. Tootsie Roll Industries had a return on equity of 10.36% and a net margin of 12.72%.

Tootsie Roll Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, October 7th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, October 7th. Tootsie Roll Industries's dividend payout ratio is presently 28.80%.

Institutional Trading of Tootsie Roll Industries

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Tootsie Roll Industries by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 2,152,076 shares of the company's stock worth $67,747,000 after purchasing an additional 42,701 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Tootsie Roll Industries by 9.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,242,619 shares of the company's stock worth $39,229,000 after acquiring an additional 102,519 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Tootsie Roll Industries by 75.4% in the second quarter. Geode Capital Management LLC now owns 472,180 shares of the company's stock valued at $15,797,000 after acquiring an additional 203,042 shares in the last quarter. HFR Wealth Management LLC boosted its stake in shares of Tootsie Roll Industries by 2.4% during the second quarter. HFR Wealth Management LLC now owns 292,969 shares of the company's stock valued at $9,800,000 after acquiring an additional 6,909 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position 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 purchasing an additional 48,484 shares in the last quarter. 14.28% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.