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

Tootsie Roll Industries (NYSE:TR) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Tootsie Roll Industries Price Performance

Shares of NYSE:TR opened at $29.22 on Friday. The stock has a market cap of $2.09 billion, a P/E ratio of 22.31 and a beta of 0.15. The firm has a fifty day moving average price of $29.78 and a 200 day moving average price of $31.83. Tootsie Roll Industries has a 1-year low of $28.42 and a 1-year high of $38.50.

Tootsie Roll Industries (NYSE:TR) last released its 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 company had revenue of $151.46 million during the quarter.

Institutional Trading of Tootsie Roll Industries

Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its holdings in shares of Tootsie Roll Industries by 3.4% in the 1st quarter. California State Teachers Retirement System now owns 14,880 shares of the company’s stock valued at $477,000 after purchasing an additional 494 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Tootsie Roll Industries in the 1st quarter valued at about $345,000. Gabelli Funds LLC increased its holdings in shares of Tootsie Roll Industries by 2.7% in the 1st quarter. Gabelli Funds LLC now owns 103,360 shares of the company’s stock valued at $3,311,000 after purchasing an additional 2,760 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Tootsie Roll Industries by 3.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 79,734 shares of the company’s stock valued at $2,554,000 after purchasing an additional 2,322 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Tootsie Roll Industries by 3.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,423 shares of the company’s stock valued at $494,000 after purchasing an additional 448 shares in the last quarter. Institutional investors and hedge funds own 14.28% of the company’s stock.

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.