Tootsie Roll Industries (NYSE:TR) Announces Quarterly Earnings Results

Tootsie Roll Industries (NYSE:TR) issued its quarterly earnings results on Friday. The company reported $0.39 EPS for the quarter, FiscalAI reports. The firm had revenue of $196.28 million during the quarter. Tootsie Roll Industries had a return on equity of 11.16% and a net margin of 13.81%.

Tootsie Roll Industries Trading Up 0.9%

Shares of TR stock opened at $42.34 on Friday. The company has a 50 day simple moving average of $38.60 and a two-hundred day simple moving average of $39.29. Tootsie Roll Industries has a 12 month low of $29.13 and a 12 month high of $44.27. The stock has a market cap of $3.09 billion, a P/E ratio of 30.68 and a beta of 0.53.

Tootsie Roll Industries’s stock is scheduled to split before the market opens on Thursday, March 5th. The 1.03-1 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, March 4th.

Tootsie Roll Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 5th will be issued a $0.09 dividend. The ex-dividend date is Thursday, March 5th. This represents a $0.36 annualized dividend and a yield of 0.9%. Tootsie Roll Industries’s dividend payout ratio (DPR) is currently 26.09%.

Institutional Trading of Tootsie Roll Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. NBT Bank N A NY acquired a new position in Tootsie Roll Industries during the third quarter valued at $39,000. CWM LLC lifted its holdings in shares of Tootsie Roll Industries by 42.0% in the 3rd quarter. CWM LLC now owns 1,394 shares of the company’s stock valued at $58,000 after buying an additional 412 shares during the period. State of Wyoming purchased a new stake in shares of Tootsie Roll Industries in the fourth quarter worth about $58,000. Ameritas Investment Partners Inc. purchased a new position in Tootsie Roll Industries during the second quarter valued at approximately $60,000. Finally, iSAM Funds UK Ltd purchased a new position in Tootsie Roll Industries during the third quarter worth approximately $136,000. Institutional investors and hedge funds own 14.28% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tootsie Roll Industries in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Tootsie Roll Industries has an average 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.