Tootsie Roll Industries (NYSE:TR) Reaches New 12-Month Low – Time to Sell?

Tootsie Roll Industries, Inc. (NYSE:TR) reached a new 52-week low on Monday. The company traded as low as $34.27 and last traded at $34.2930, with a volume of 12,357 shares changing hands. The stock had previously closed at $34.78.

Analyst Upgrades and Downgrades

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

Tootsie Roll Industries Stock Down 1.3%

The firm’s fifty day moving average price is $38.58 and its 200-day moving average price is $39.40. The stock has a market cap of $2.58 billion, a P/E ratio of 26.68 and a beta of 0.41.

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

Tootsie Roll Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, October 7th were issued a dividend of $0.09 per share. 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 payout ratio is currently 28.12%.

Hedge Funds Weigh In On Tootsie Roll Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio boosted its stake in shares of Tootsie Roll Industries by 3.0% in the 1st quarter. Strs Ohio now owns 8,961 shares of the company’s stock worth $383,000 after buying an additional 261 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Tootsie Roll Industries by 48.1% in the first quarter. EverSource Wealth Advisors LLC now owns 958 shares of the company’s stock worth $41,000 after acquiring an additional 311 shares during the period. Brown Lisle Cummings Inc. grew its holdings in shares of Tootsie Roll Industries by 1.2% in the third quarter. Brown Lisle Cummings Inc. now owns 28,095 shares of the company’s stock worth $1,056,000 after acquiring an additional 320 shares during the period. GAMMA Investing LLC increased its position in Tootsie Roll Industries by 8.1% during the second quarter. GAMMA Investing LLC now owns 4,549 shares of the company’s stock valued at $180,000 after acquiring an additional 339 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Tootsie Roll Industries by 2.2% during the first quarter. California State Teachers Retirement System now owns 17,485 shares of the company’s stock valued at $747,000 after acquiring an additional 375 shares during the last quarter. 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.