Tootsie Roll Industries (NYSE:TR) Releases Earnings Results

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

Tootsie Roll Industries Stock Performance

Shares of Tootsie Roll Industries stock traded down $0.30 during trading on Friday, reaching $37.62. The company’s stock had a trading volume of 24,606 shares, compared to its average volume of 171,150. The business’s fifty day moving average price is $38.62 and its 200-day moving average price is $40.08. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 28.12 and a beta of 0.39. Tootsie Roll Industries has a one year low of $34.44 and a one year high of $45.06.

Tootsie Roll Industries Dividend Announcement

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

Institutional Investors Weigh In On Tootsie Roll Industries

Several hedge funds have recently modified their holdings of TR. Millennium Management LLC increased its holdings in shares of Tootsie Roll Industries by 121.9% during the 3rd quarter. Millennium Management LLC now owns 328,323 shares of the company’s stock worth $13,763,000 after purchasing an additional 180,351 shares during the period. Invesco Ltd. lifted its stake in shares of Tootsie Roll Industries by 98.1% in the third quarter. Invesco Ltd. now owns 316,816 shares of the company’s stock valued at $13,281,000 after buying an additional 156,929 shares during the period. Goldman Sachs Group Inc. grew its position in Tootsie Roll Industries by 29.1% during the first quarter. Goldman Sachs Group Inc. now owns 215,015 shares of the company’s stock worth $6,769,000 after buying an additional 48,484 shares in the last quarter. First Trust Advisors LP increased its stake in Tootsie Roll Industries by 115.2% during the second quarter. First Trust Advisors LP now owns 87,085 shares of the company’s stock valued at $2,913,000 after acquiring an additional 46,609 shares during the period. Finally, State Street Corp increased its stake in Tootsie Roll Industries by 5.1% during the fourth quarter. State Street Corp now owns 710,367 shares of the company’s stock valued at $26,084,000 after acquiring an additional 34,770 shares during the period. 14.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tootsie Roll Industries in a research report on Monday, June 15th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Tootsie Roll Industries has a consensus rating of “Hold”.

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.