Tootsie Roll Industries (NYSE:TR) Hits New 1-Year Low – Here’s What Happened

Tootsie Roll Industries, Inc. (NYSE:TR) shares hit a new 52-week low during trading on Monday. The stock traded as low as $34.27 and last traded at $34.2930, with a volume of 12,357 shares. The stock had previously closed at $34.78.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Tootsie Roll Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat, Tootsie Roll Industries currently has an average rating of “Buy”.

Tootsie Roll Industries Stock Performance

The company has a market cap of $2.58 billion, a P/E ratio of 26.78 and a beta of 0.41. The firm’s fifty day moving average is $38.38 and its two-hundred day moving average is $39.67.

Tootsie Roll Industries (NYSE:TR) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $154.22 million for the quarter.

Tootsie Roll Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, October 7th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, October 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Tootsie Roll Industries’s payout ratio is 28.13%.

Institutional Investors Weigh In On Tootsie Roll Industries

Several hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio boosted its holdings in shares of Tootsie Roll Industries by 3.0% in the first quarter. Strs Ohio now owns 8,961 shares of the company’s stock valued at $383,000 after purchasing an additional 261 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Tootsie Roll Industries by 48.1% in the first quarter. EverSource Wealth Advisors LLC now owns 958 shares of the company’s stock worth $41,000 after purchasing an additional 311 shares during the last quarter. Brown Lisle Cummings Inc. boosted its holdings in Tootsie Roll Industries by 1.2% in the third quarter. Brown Lisle Cummings Inc. now owns 28,095 shares of the company’s stock worth $1,056,000 after acquiring an additional 320 shares in the last quarter. GAMMA Investing LLC boosted its stake in Tootsie Roll Industries by 8.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,549 shares of the company’s stock worth $180,000 after purchasing an additional 339 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in Tootsie Roll Industries by 2.2% during the 1st quarter. California State Teachers Retirement System now owns 17,485 shares of the company’s stock worth $747,000 after purchasing an additional 375 shares during the last quarter. 14.28% of the stock is currently owned by hedge funds and other institutional investors.

About Tootsie Roll Industries

Tootsie Roll Industries, Inc manufactures and sells confectionery products in the United States and internationally. Its portfolio includes chocolate, candy, gum and other sweets marketed under brands such as Tootsie Roll, Tootsie Pop, Dots, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes and Charms Blow Pop.

The company traces its origins to 1896, when Leo Hirschfield began producing candy in New York City. Tootsie Roll, one of its best-known products, was introduced in the late 19th century and named after Hirschfield’s daughter, Clara, whose nickname was “Tootsie.” The company later expanded through brand development and acquisitions, building a broad portfolio of widely recognized confectionery products.

Tootsie Roll Industries is headquartered in Chicago, Illinois.