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

StockNews.com upgraded shares of Tootsie Roll Industries (NYSE:TRFree Report) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Tootsie Roll Industries Stock Performance

TR stock opened at $29.36 on Thursday. Tootsie Roll Industries has a 1 year low of $28.82 and a 1 year high of $39.09. The firm has a market cap of $2.10 billion, a P/E ratio of 22.41 and a beta of 0.15. The stock has a 50-day simple moving average of $30.15 and a 200-day simple moving average of $32.08.

Tootsie Roll Industries (NYSE:TRGet Free Report) last posted its earnings results on Wednesday, April 24th. The company reported $0.22 earnings per share (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 during the quarter.

Tootsie Roll Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Thursday, June 20th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, June 20th. This represents a $0.36 dividend on an annualized basis and a yield of 1.23%. Tootsie Roll Industries’s dividend payout ratio (DPR) is presently 27.48%.

Institutional Investors Weigh In On Tootsie Roll Industries

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Tootsie Roll Industries by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 1,865,760 shares of the company’s stock valued at $59,760,000 after purchasing an additional 24,408 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Tootsie Roll Industries by 19.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,002,425 shares of the company’s stock valued at $32,108,000 after purchasing an additional 160,197 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tootsie Roll Industries by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 883,291 shares of the company’s stock worth $29,360,000 after buying an additional 7,890 shares during the last quarter. HFR Wealth Management LLC lifted its holdings in Tootsie Roll Industries by 1.2% during the 4th quarter. HFR Wealth Management LLC now owns 256,991 shares of the company’s stock worth $8,542,000 after buying an additional 3,083 shares during the last quarter. Finally, Heartland Advisors Inc. bought a new position in Tootsie Roll Industries during the 4th quarter worth approximately $3,733,000. Institutional investors and hedge funds own 14.28% of the company’s stock.

Tootsie Roll Industries Company Profile

(Get Free Report)

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.

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