Virtus Advisers LLC Invests $654,000 in Tootsie Roll Industries, Inc. $TR

Virtus Advisers LLC acquired a new position in shares of Tootsie Roll Industries, Inc. (NYSE:TR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,536 shares of the company’s stock, valued at approximately $654,000.

Other large investors have also modified their holdings of the company. Royal Bank of Canada lifted its position in Tootsie Roll Industries by 4.4% in the first quarter. Royal Bank of Canada now owns 67,993 shares of the company’s stock worth $2,140,000 after purchasing an additional 2,893 shares during the period. AQR Capital Management LLC boosted its stake in Tootsie Roll Industries by 56.6% during the first quarter. AQR Capital Management LLC now owns 17,428 shares of the company’s stock worth $549,000 after buying an additional 6,299 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Tootsie Roll Industries by 29.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 215,015 shares of the company’s stock valued at $6,769,000 after buying an additional 48,484 shares during the period. Rhumbline Advisers raised its stake in shares of Tootsie Roll Industries by 95.8% in the 2nd quarter. Rhumbline Advisers now owns 44,865 shares of the company’s stock valued at $1,501,000 after buying an additional 21,947 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Tootsie Roll Industries by 25.4% in the 2nd quarter. American Century Companies Inc. now owns 34,030 shares of the company’s stock valued at $1,138,000 after buying an additional 6,889 shares in the last quarter. 14.28% of the stock is currently owned by institutional investors and hedge funds.

Tootsie Roll Industries Trading Up 1.4%

TR stock opened at $41.83 on Friday. Tootsie Roll Industries, Inc. has a 1-year low of $34.44 and a 1-year high of $45.06. The business’s 50 day moving average is $38.97 and its 200-day moving average is $40.45. The firm has a market cap of $3.14 billion, a P/E ratio of 32.58 and a beta of 0.39.

Tootsie Roll Industries (NYSE:TR) last posted its earnings results on Friday, August 7th. The company reported $0.18 EPS for the quarter. The business had revenue of $154.22 million during the quarter. Tootsie Roll Industries had a return on equity of 10.16% and a net margin of 13.14%.

Tootsie Roll Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, June 18th. Tootsie Roll Industries’s dividend payout ratio is currently 28.12%.

Wall Street Analysts Forecast Growth

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