Tootsie Roll Industries (NYSE:TR) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Tootsie Roll Industries (NYSE:TR) from a buy rating to a hold rating in a report released on Sunday.

Tootsie Roll Industries Stock Performance

TR stock opened at $29.99 on Friday. The company’s 50 day moving average is $29.63 and its 200 day moving average is $31.47. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 22.94 and a beta of 0.17. Tootsie Roll Industries has a 1-year low of $28.13 and a 1-year high of $35.98.

Tootsie Roll Industries (NYSE:TR) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.22 earnings per share for the quarter. Tootsie Roll Industries had a net margin of 12.51% and a return on equity of 11.63%. The company 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 1.20%. The ex-dividend date is Thursday, June 20th. Tootsie Roll Industries’s payout ratio is currently 27.54%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TR. Trexquant Investment LP grew its position in Tootsie Roll Industries by 104.8% during the third quarter. Trexquant Investment LP now owns 18,238 shares of the company’s stock valued at $545,000 after acquiring an additional 9,334 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Tootsie Roll Industries by 6.2% during the third quarter. Qube Research & Technologies Ltd now owns 74,880 shares of the company’s stock valued at $2,236,000 after purchasing an additional 4,394 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Tootsie Roll Industries during the third quarter valued at approximately $338,000. Tudor Investment Corp Et Al boosted its stake in shares of Tootsie Roll Industries by 11.0% during the third quarter. Tudor Investment Corp Et Al now owns 81,182 shares of the company’s stock valued at $2,424,000 after purchasing an additional 8,015 shares during the period. Finally, Headinvest LLC purchased a new stake in shares of Tootsie Roll Industries during the third quarter valued at approximately $28,000. 14.28% of the stock is currently owned by institutional investors.

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.