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

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

Tootsie Roll Industries Stock Performance

Shares of Tootsie Roll Industries stock traded down $0.18 during trading hours on Friday, reaching $37.74. The company’s stock had a trading volume of 10,574 shares, compared to its average volume of 171,057. The company has a market capitalization of $2.84 billion, a P/E ratio of 28.23 and a beta of 0.39. The stock’s fifty day simple moving average is $38.62 and its two-hundred day simple moving average is $40.08. Tootsie Roll Industries has a one year low of $34.44 and a one year high of $45.06.

Tootsie Roll Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis 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 26.87%.

Institutional Investors Weigh In On Tootsie Roll Industries

A number of institutional investors and hedge funds have recently made changes to their positions in TR. Corient Private Wealth LLC lifted its position in Tootsie Roll Industries by 5.5% in the 4th quarter. Corient Private Wealth LLC now owns 7,196 shares of the company’s stock valued at $264,000 after acquiring an additional 377 shares in the last quarter. Invesco Ltd. increased its holdings in Tootsie Roll Industries by 8.4% during the 4th quarter. Invesco Ltd. now owns 343,389 shares of the company’s stock worth $12,578,000 after purchasing an additional 26,573 shares in the last quarter. VARCOV Co. purchased a new stake in shares of Tootsie Roll Industries in the fourth quarter worth approximately $350,000. Susquehanna Portfolio Strategies LLC purchased a new stake in shares of Tootsie Roll Industries in the fourth quarter worth approximately $706,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Tootsie Roll Industries in the fourth quarter valued at approximately $667,000. Institutional investors and hedge funds own 14.28% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tootsie Roll Industries Company Profile

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.