Tootsie Roll Industries (NYSE:TR) Announces Earnings Results

by · The Cerbat Gem

Tootsie Roll Industries (NYSE:TRGet Free Report) announced its earnings results on Wednesday. The company reported $0.18 earnings per share (EPS) for the quarter, Zacks reports. Tootsie Roll Industries had a net margin of 13.70% and a return on equity of 10.77%. The business had revenue of $151.94 million during the quarter.

Tootsie Roll Industries Trading Down 0.7%

Shares of TR stock traded down $0.25 during trading hours on Friday, reaching $37.67. The company’s stock had a trading volume of 17,735 shares, compared to its average volume of 171,113. Tootsie Roll Industries has a one year low of $34.44 and a one year high of $45.06. The stock has a market capitalization of $2.83 billion, a P/E ratio of 28.17 and a beta of 0.39. The firm’s fifty day simple moving average is $38.62 and its 200 day simple moving average is $40.08.

Tootsie Roll Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were given 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 was Thursday, June 18th. Tootsie Roll Industries’s dividend payout ratio (DPR) is currently 26.87%.

Hedge Funds Weigh In On Tootsie Roll Industries

A number of institutional investors have recently bought and sold shares of TR. Royal Bank of Canada boosted its holdings in shares of Tootsie Roll Industries by 4.4% during the 1st quarter. Royal Bank of Canada now owns 67,993 shares of the company’s stock valued at $2,140,000 after buying an additional 2,893 shares in the last quarter. AQR Capital Management LLC raised 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 valued at $549,000 after buying an additional 6,299 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Tootsie Roll Industries by 29.1% during the first 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 last quarter. Rhumbline Advisers boosted its holdings in Tootsie Roll Industries by 95.8% in the second quarter. Rhumbline Advisers now owns 44,865 shares of the company’s stock worth $1,501,000 after acquiring an additional 21,947 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Tootsie Roll Industries by 25.4% in the second quarter. American Century Companies Inc. now owns 34,030 shares of the company’s stock worth $1,138,000 after acquiring an additional 6,889 shares in the last quarter. 14.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Get Our Latest Research Report on Tootsie Roll Industries

Tootsie Roll Industries Company Profile

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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.

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