Tootsie Roll Industries (NYSE:TR) Reaches New 1-Year High - Time to 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) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $40.43 and last traded at $40.12, with a volume of 47656 shares changing hands. The stock had previously closed at $40.00.

Analyst Ratings Changes

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

Tootsie Roll Industries Trading Down 0.2%

The company has a 50 day simple moving average of $35.39 and a 200 day simple moving average of $32.89. The stock has a market capitalization of $2.83 billion, a PE ratio of 31.08 and a beta of 0.40.

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

Tootsie Roll Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Wednesday, June 18th. Tootsie Roll Industries's dividend payout ratio is currently 28.80%.

Institutional Investors Weigh In On Tootsie Roll Industries

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Tootsie Roll Industries by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 2,152,076 shares of the company's stock worth $67,747,000 after buying an additional 42,701 shares during the period. Allspring Global Investments Holdings LLC raised its position in 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 valued at $39,229,000 after purchasing an additional 102,519 shares during the period. Dimensional Fund Advisors LP raised its position in Tootsie Roll Industries by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,038,573 shares of the company's stock valued at $33,577,000 after purchasing an additional 37,924 shares during the period. HFR Wealth Management LLC raised its position in Tootsie Roll Industries by 1.7% in the first quarter. HFR Wealth Management LLC now owns 286,060 shares of the company's stock valued at $9,005,000 after purchasing an additional 4,747 shares during the period. Finally, Geode Capital Management LLC raised its position in Tootsie Roll Industries by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 251,414 shares of the company's stock valued at $8,132,000 after purchasing an additional 6,541 shares during the period. Institutional investors and hedge funds 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.