Tootsie Roll Industries, Inc. (NYSE:TR) Stake Cut by Citigroup Inc.

Citigroup Inc. cut its holdings in shares of Tootsie Roll Industries, Inc. (NYSE:TR) by 14.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,659 shares of the company’s stock after selling 1,518 shares during the quarter. Citigroup Inc.’s holdings in Tootsie Roll Industries were worth $259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Chilton Capital Management LLC acquired a new position in shares of Tootsie Roll Industries in the first quarter worth $30,000. Captrust Financial Advisors increased its position in Tootsie Roll Industries by 86.2% in the 2nd quarter. Captrust Financial Advisors now owns 797 shares of the company’s stock worth $28,000 after purchasing an additional 369 shares during the last quarter. Advisory Services Network LLC acquired a new position in Tootsie Roll Industries in the 1st quarter worth about $63,000. PNC Financial Services Group Inc. raised its stake in shares of Tootsie Roll Industries by 22.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,703 shares of the company’s stock worth $60,000 after purchasing an additional 316 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Tootsie Roll Industries during the 2nd quarter valued at about $101,000. Hedge funds and other institutional investors own 14.28% of the company’s stock.

Tootsie Roll Industries Trading Up 0.4 %

Tootsie Roll Industries stock opened at $31.96 on Thursday. Tootsie Roll Industries, Inc. has a 1-year low of $29.07 and a 1-year high of $45.98. The firm’s fifty day simple moving average is $32.49 and its 200-day simple moving average is $32.24. The company has a market capitalization of $2.29 billion, a P/E ratio of 25.13 and a beta of 0.15.

Tootsie Roll Industries (NYSE:TR) last posted its earnings results on Friday, February 16th. The company reported $0.41 earnings per share for the quarter. Tootsie Roll Industries had a return on equity of 11.48% and a net margin of 12.04%. The company had revenue of $195.37 million for the quarter.

Tootsie Roll Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 6th will be issued a $0.09 dividend. This is a positive change from Tootsie Roll Industries’s previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 1.13%. The ex-dividend date is Tuesday, March 5th. Tootsie Roll Industries’s payout ratio is 28.31%.

Analyst Ratings Changes

Separately, TheStreet upgraded Tootsie Roll Industries from a “c+” rating to a “b-” rating in a report on Thursday, December 7th.

Tootsie Roll Industries Profile

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.