Tootsie Roll Industries (NYSE:TR) Raised to “Buy” at StockNews.com

Tootsie Roll Industries (NYSE:TR) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Tootsie Roll Industries Stock Down 1.5 %

NYSE:TR traded down $0.45 during trading hours on Tuesday, reaching $29.78. 110,287 shares of the company’s stock were exchanged, compared to its average volume of 163,426. The company has a market capitalization of $2.13 billion, a P/E ratio of 24.41 and a beta of 0.33. Tootsie Roll Industries has a 12 month low of $26.78 and a 12 month high of $33.22. The business’s 50-day simple moving average is $31.23 and its two-hundred day simple moving average is $31.33.

Institutional Investors Weigh In On Tootsie Roll Industries

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake in Tootsie Roll Industries by 1,398.0% during the third quarter. BNP Paribas Financial Markets now owns 7,460 shares of the company’s stock valued at $231,000 after buying an additional 6,962 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Tootsie Roll Industries by 1.5% in the 3rd quarter. HighTower Advisors LLC now owns 44,838 shares of the company’s stock valued at $1,388,000 after acquiring an additional 668 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Tootsie Roll Industries by 15.1% in the 3rd quarter. Janus Henderson Group PLC now owns 49,623 shares of the company’s stock valued at $1,537,000 after acquiring an additional 6,519 shares in the last quarter. Jane Street Group LLC purchased a new position in Tootsie Roll Industries during the 3rd quarter worth approximately $4,007,000. Finally, XTX Topco Ltd acquired a new stake in Tootsie Roll Industries during the 3rd quarter valued at $336,000. 14.28% of the stock is owned by hedge funds and other 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.