Principal Financial Group Inc. Sells 1,674 Shares of Tootsie Roll Industries, Inc. (NYSE:TR)

Principal Financial Group Inc. lowered its stake in shares of Tootsie Roll Industries, Inc. (NYSE:TR) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,337 shares of the company’s stock after selling 1,674 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of Tootsie Roll Industries worth $2,893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Headinvest LLC bought a new position in shares of Tootsie Roll Industries in the 3rd quarter valued at $28,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Tootsie Roll Industries by 45,333.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,363 shares of the company’s stock valued at $45,000 after purchasing an additional 1,360 shares during the period. Clarity Asset Management Inc. bought a new position in Tootsie Roll Industries during the 4th quarter worth $55,000. Tower Research Capital LLC TRC lifted its holdings in Tootsie Roll Industries by 189.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,806 shares of the company’s stock worth $93,000 after buying an additional 1,838 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 buying an additional 2,141 shares during the last quarter. 14.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Tootsie Roll Industries from a “buy” rating to a “hold” rating in a research note on Sunday, June 30th.

Tootsie Roll Industries Price Performance

Shares of Tootsie Roll Industries stock traded down $0.05 during trading hours on Friday, hitting $29.57. 23,903 shares of the company’s stock traded hands, compared to its average volume of 100,116. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 22.66 and a beta of 0.17. The company has a fifty day simple moving average of $29.61 and a 200-day simple moving average of $31.44. Tootsie Roll Industries, Inc. has a 12-month low of $28.13 and a 12-month high of $35.84.

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

Tootsie Roll Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Thursday, June 20th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, June 20th. Tootsie Roll Industries’s dividend payout ratio (DPR) is presently 27.54%.

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.