Tootsie Roll Industries (NYSE:TR) Rating Lowered to "Hold" at StockNews.com

Tootsie Roll Industries (NYSE:TR - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

Tootsie Roll Industries Price Performance

Shares of TR stock traded up $0.06 on Friday, hitting $32.43. 40,695 shares of the company's stock were exchanged, compared to its average volume of 163,631. Tootsie Roll Industries has a 12 month low of $26.78 and a 12 month high of $33.22. The company has a 50 day moving average of $31.31 and a 200 day moving average of $31.36. The stock has a market cap of $2.32 billion, a P/E ratio of 26.58 and a beta of 0.33.

Institutional Trading of Tootsie Roll Industries

A number of hedge funds and other institutional investors have recently modified their holdings of TR. Vanguard Group Inc. grew its position in Tootsie Roll Industries by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 2,109,375 shares of the company's stock worth $68,196,000 after acquiring an additional 211,129 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Tootsie Roll Industries by 3.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,140,100 shares of the company's stock valued at $37,179,000 after buying an additional 41,326 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of 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 buying an additional 37,924 shares during the period. HFR Wealth Management LLC raised its holdings in Tootsie Roll Industries by 0.6% in the 4th quarter. HFR Wealth Management LLC now owns 281,313 shares of the company's stock valued at $9,095,000 after buying an additional 1,617 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Tootsie Roll Industries by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 251,414 shares of the company's stock worth $8,132,000 after buying an additional 6,541 shares during the period. Institutional investors own 14.28% of the company's stock.

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.