StockNews.com Upgrades Tootsie Roll Industries (NYSE:TR) to Buy

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

Tootsie Roll Industries Stock Up 7.2 %

Shares of Tootsie Roll Industries stock opened at $31.92 on Friday. The stock has a market cap of $2.28 billion, a P/E ratio of 24.37 and a beta of 0.15. Tootsie Roll Industries has a 12-month low of $28.13 and a 12-month high of $37.63. The business’s 50 day moving average is $29.58 and its 200-day moving average is $31.59.

Tootsie Roll Industries (NYSE:TR) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.22 earnings per share (EPS) for the quarter. Tootsie Roll Industries had a net margin of 12.51% and a return on equity of 11.63%. The firm had revenue of $151.46 million for the quarter.

Tootsie Roll Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Thursday, June 20th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Thursday, June 20th. Tootsie Roll Industries’s dividend payout ratio (DPR) is presently 27.48%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Headinvest LLC bought a new position in Tootsie Roll Industries during the third quarter worth $28,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Tootsie Roll Industries by 45,333.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,363 shares of the company’s stock worth $45,000 after buying an additional 1,360 shares during the last quarter. Clarity Asset Management Inc. bought a new stake in shares of Tootsie Roll Industries during the 4th quarter worth about $55,000. Tower Research Capital LLC TRC grew its stake in Tootsie Roll Industries by 189.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,806 shares of the company’s stock valued at $93,000 after buying an additional 1,838 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tootsie Roll Industries by 107.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,138 shares of the company’s stock valued at $138,000 after acquiring an additional 2,141 shares during the period. 14.28% of the stock is owned by institutional investors and hedge funds.

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.