StockNews.com Downgrades Tootsie Roll Industries (NYSE:TR) to Hold

Tootsie Roll Industries (NYSE:TR) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Tootsie Roll Industries Price Performance

Shares of NYSE:TR opened at $29.99 on Friday. The company’s fifty day moving average price is $29.64 and its 200 day moving average price is $31.49. Tootsie Roll Industries has a 12 month low of $28.13 and a 12 month high of $35.98. The firm has a market capitalization of $2.14 billion, a P/E ratio of 22.94 and a beta of 0.17.

Tootsie Roll Industries (NYSE:TR) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.22 EPS for the quarter. Tootsie Roll Industries had a net margin of 12.51% and a return on equity of 11.63%. The firm had revenue of $151.46 million for the quarter.

Institutional Investors Weigh In On Tootsie Roll Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Headinvest LLC acquired a new position in Tootsie Roll Industries in the third quarter valued at $28,000. Whittier Trust Co. of Nevada Inc. increased its stake in Tootsie Roll Industries by 45,333.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,363 shares of the company’s stock valued at $45,000 after purchasing an additional 1,360 shares during the period. Clarity Asset Management Inc. acquired a new position in Tootsie Roll Industries in the fourth quarter valued at $55,000. Tower Research Capital LLC TRC increased its stake in Tootsie Roll Industries by 189.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,806 shares of the company’s stock valued at $93,000 after purchasing an additional 1,838 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Tootsie Roll Industries by 107.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,138 shares of the company’s stock valued at $138,000 after purchasing an additional 2,141 shares during the period. 14.28% of the stock is currently owned by institutional investors and hedge funds.

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.