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

StockNews.com upgraded shares of Tootsie Roll Industries (NYSE:TR) from a hold rating to a buy rating in a research report report published on Thursday morning.

Tootsie Roll Industries Stock Up 1.2 %

Tootsie Roll Industries stock opened at $33.41 on Thursday. The business has a fifty day moving average of $31.63 and a two-hundred day moving average of $31.56. Tootsie Roll Industries has a twelve month low of $26.78 and a twelve month high of $34.63. The firm has a market cap of $2.39 billion, a P/E ratio of 27.39 and a beta of 0.39.

Tootsie Roll Industries (NYSE:TR) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.25 EPS for the quarter. The company had revenue of $146.52 million for the quarter. Tootsie Roll Industries had a net margin of 12.14% and a return on equity of 10.23%.

Tootsie Roll Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Wednesday, March 5th. Tootsie Roll Industries’s dividend payout ratio is presently 29.51%.

Institutional Investors Weigh In On Tootsie Roll Industries

Large investors have recently bought and sold shares of the stock. Barclays PLC increased its holdings in shares of Tootsie Roll Industries by 227.2% in the 3rd quarter. Barclays PLC now owns 5,566 shares of the company’s stock valued at $171,000 after acquiring an additional 3,865 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Tootsie Roll Industries in the 3rd quarter worth about $96,000. JPMorgan Chase & Co. increased its stake in shares of Tootsie Roll Industries by 278.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 26,567 shares of the company’s stock worth $823,000 after purchasing an additional 19,547 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Tootsie Roll Industries by 133.5% in the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the company’s stock valued at $58,000 after acquiring an additional 1,033 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Tootsie Roll Industries by 177.6% during the 4th quarter. SG Americas Securities LLC now owns 20,904 shares of the company’s stock worth $676,000 after purchasing an additional 13,375 shares during the last quarter. Hedge funds and other 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.