Tootsie Roll Industries (NYSE:TR) Stock Falls 7.1% – Here’s Why

Shares of Tootsie Roll Industries, Inc. (NYSE:TR) dropped 7.1% during trading on Friday. The company traded as low as $34.82 and last traded at $34.56. 129,463 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 166,739 shares. The stock had previously closed at $37.19.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Tootsie Roll Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Buy rating. According to MarketBeat.com, Tootsie Roll Industries has a consensus rating of “Buy”.

Tootsie Roll Industries Stock Performance

The company has a market cap of $2.62 billion, a P/E ratio of 27.15 and a beta of 0.41. The company has a fifty day moving average price of $38.58 and a two-hundred day moving average price of $39.43.

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

Tootsie Roll Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, October 7th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, October 7th. Tootsie Roll Industries’s dividend payout ratio (DPR) is currently 28.12%.

Institutional Investors Weigh In On Tootsie Roll Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its position in Tootsie Roll Industries by 138.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,904 shares of the company’s stock worth $72,000 after acquiring an additional 1,104 shares in the last quarter. Brown Lisle Cummings Inc. lifted its stake in Tootsie Roll Industries by 1.2% in the third quarter. Brown Lisle Cummings Inc. now owns 28,095 shares of the company’s stock valued at $1,056,000 after acquiring an additional 320 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Tootsie Roll Industries in the 2nd quarter valued at about $2,669,000. Integrated Wealth Concepts LLC bought a new position in shares of Tootsie Roll Industries in the 2nd quarter valued at about $179,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Tootsie Roll Industries during the 2nd quarter worth about $2,544,000. Institutional investors own 14.28% of the company’s stock.

About Tootsie Roll Industries

Tootsie Roll Industries, Inc manufactures and sells confectionery products in the United States and internationally. Its portfolio includes chocolate, candy, gum and other sweets marketed under brands such as Tootsie Roll, Tootsie Pop, Dots, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes and Charms Blow Pop.

The company traces its origins to 1896, when Leo Hirschfield began producing candy in New York City. Tootsie Roll, one of its best-known products, was introduced in the late 19th century and named after Hirschfield’s daughter, Clara, whose nickname was “Tootsie.” The company later expanded through brand development and acquisitions, building a broad portfolio of widely recognized confectionery products.

Tootsie Roll Industries is headquartered in Chicago, Illinois.