Tootsie Roll Industries (NYSE:TR) Announces Earnings Results

Tootsie Roll Industries (NYSE:TR) issued its quarterly earnings results on Wednesday. The company reported $0.18 earnings per share for the quarter, Zacks reports. Tootsie Roll Industries had a net margin of 13.70% and a return on equity of 10.77%. The firm had revenue of $151.94 million during the quarter.

Tootsie Roll Industries Stock Down 1.0%

NYSE:TR traded down $0.37 during trading hours on Friday, hitting $37.55. 17,735 shares of the company’s stock traded hands, compared to its average volume of 171,113. The business’s fifty day simple moving average is $38.62 and its two-hundred day simple moving average is $40.08. The firm has a market cap of $2.82 billion, a P/E ratio of 28.11 and a beta of 0.39. Tootsie Roll Industries has a 52 week low of $34.44 and a 52 week high of $45.06.

Tootsie Roll Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were paid a $0.09 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.36 annualized dividend and a yield of 1.0%. Tootsie Roll Industries’s dividend payout ratio (DPR) is currently 26.87%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Tootsie Roll Industries in a research note on Monday, June 15th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Institutional Investors Weigh In On Tootsie Roll Industries

Large investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new stake in shares of Tootsie Roll Industries in the fourth quarter worth $58,000. iSAM Funds UK Ltd purchased a new position in Tootsie Roll Industries in the 3rd quarter worth approximately $136,000. Russell Investments Group Ltd. grew its stake in Tootsie Roll Industries by 29,407.7% during the third quarter. Russell Investments Group Ltd. now owns 3,836 shares of the company’s stock valued at $161,000 after acquiring an additional 3,823 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Tootsie Roll Industries by 9.7% during the third quarter. Parallel Advisors LLC now owns 4,115 shares of the company’s stock valued at $173,000 after purchasing an additional 364 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Tootsie Roll Industries during the 2nd quarter worth approximately $183,000. Institutional investors own 14.28% of the company’s stock.

About Tootsie Roll Industries

Tootsie Roll Industries, Inc is a U.S.-based confectionery company best known for producing Tootsie Rolls and Tootsie Pops. Headquartered in Chicago, the company manufactures a broad range of candy products, including fruit-flavored chews, gummies, mints and gum, under a portfolio of well-recognized brands. Its offerings are sold through mass-market retailers, convenience stores, specialty shops and vending channels.

The company traces its origins to 1896 when confectioner Leo Hirschfeld invented the Tootsie Roll in New York City.