Tootsie Roll Industries (NYSE:TR) Shares Up 6.3% – Here’s Why

Tootsie Roll Industries, Inc. (NYSE:TR)’s share price traded up 6.3% during trading on Thursday . The stock traded as high as $42.78 and last traded at $42.5150. 66,267 shares traded hands during trading, a decline of 40% from the average session volume of 110,351 shares. The stock had previously closed at $40.01.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tootsie Roll Industries in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Tootsie Roll Industries Stock Up 2.4%

The company has a market capitalization of $3.08 billion, a PE ratio of 32.67 and a beta of 0.53. The firm’s 50-day moving average is $37.74 and its 200-day moving average is $39.05.

Tootsie Roll Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Wednesday, December 24th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, December 24th. Tootsie Roll Industries’s dividend payout ratio (DPR) is currently 27.91%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TR. Chevy Chase Trust Holdings LLC boosted its stake in shares of Tootsie Roll Industries by 3.0% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 10,684 shares of the company’s stock valued at $357,000 after purchasing an additional 310 shares in the last quarter. Bank of Montreal Can lifted its stake in Tootsie Roll Industries by 1.6% in the second quarter. Bank of Montreal Can now owns 19,372 shares of the company’s stock worth $648,000 after purchasing an additional 312 shares during the last quarter. Parallel Advisors LLC boosted its position in Tootsie Roll Industries by 9.7% during the third quarter. Parallel Advisors LLC now owns 4,115 shares of the company’s stock valued at $173,000 after buying an additional 364 shares during the period. Marble Harbor Investment Counsel LLC grew its stake in shares of Tootsie Roll Industries by 3.0% during the second quarter. Marble Harbor Investment Counsel LLC now owns 13,558 shares of the company’s stock valued at $454,000 after buying an additional 391 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Tootsie Roll Industries by 42.0% in the third quarter. CWM LLC now owns 1,394 shares of the company’s stock worth $58,000 after buying an additional 412 shares during the period. 14.28% of the stock is currently owned by institutional investors.

Tootsie Roll Industries Company Profile

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.