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

Key Points

• Tootsie Roll Industries reached a new 52-week high at $40.43, closing at $40.12 with a trading volume of 47,656 shares.
• The company has recently been downgraded from a "buy" to a "hold" rating by Wall Street Zen.
• Tootsie Roll announced a quarterly dividend of $0.09 per share, reflecting an annualized yield of 0.92% and a payout ratio of 28.80%.

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $40.43 and last traded at $40.12, with a volume of 47656 shares trading hands. The stock had previously closed at $40.00.

Analyst Ratings Changes

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 Stock Performance

The business's 50-day moving average price is $35.48 and its 200 day moving average price is $32.94. The company has a market cap of $2.77 billion, a P/E ratio of 30.33 and a beta of 0.40.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.24 EPS for the quarter. The business had revenue of $153.19 million for the quarter. Tootsie Roll Industries had a net margin of 12.72% and a return on equity of 10.42%.

Tootsie Roll Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were issued a $0.09 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.36 annualized dividend and a yield of 0.9%. Tootsie Roll Industries's dividend payout ratio is presently 28.80%.

Hedge Funds Weigh In On Tootsie Roll Industries

A number of institutional investors and hedge funds have recently modified their holdings of TR. Raymond James Financial Inc. bought a new stake in shares of Tootsie Roll Industries during the fourth quarter valued at approximately $390,000. American Century Companies Inc. grew its holdings in shares of Tootsie Roll Industries by 5.8% during the fourth quarter. American Century Companies Inc. now owns 14,863 shares of the company's stock valued at $481,000 after buying an additional 815 shares during the last quarter. Sei Investments Co. increased its position in shares of Tootsie Roll Industries by 2.5% during the fourth quarter. Sei Investments Co. now owns 28,194 shares of the company's stock worth $912,000 after acquiring an additional 695 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Tootsie Roll Industries during the 4th quarter valued at about $82,000. Finally, LPL Financial LLC lifted its holdings in shares of Tootsie Roll Industries by 5.4% in the fourth quarter. LPL Financial LLC now owns 7,859 shares of the company's stock valued at $254,000 after purchasing an additional 404 shares in the last quarter. 14.28% of the stock is currently owned by institutional investors.

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.