Granite Investment Partners LLC Has $2.83 Million Position in Tootsie Roll Industries, Inc. (NYSE:TR)

Granite Investment Partners LLC decreased its position in shares of Tootsie Roll Industries, Inc. (NYSE:TR) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,454 shares of the company’s stock after selling 1,763 shares during the period. Granite Investment Partners LLC owned about 0.13% of Tootsie Roll Industries worth $2,826,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Tootsie Roll Industries by 19.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,002,425 shares of the company’s stock worth $32,108,000 after buying an additional 160,197 shares in the last quarter. ORG Partners LLC acquired a new position in Tootsie Roll Industries during the second quarter worth about $639,000. State Board of Administration of Florida Retirement System bought a new position in shares of Tootsie Roll Industries in the first quarter worth about $801,000. Vanguard Group Inc. boosted its stake in shares of Tootsie Roll Industries by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 1,865,760 shares of the company’s stock valued at $59,760,000 after purchasing an additional 24,408 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Tootsie Roll Industries during the 4th quarter valued at approximately $191,000. 14.28% of the stock is owned by institutional investors.

Tootsie Roll Industries Trading Up 0.2 %

NYSE:TR opened at $32.03 on Friday. The stock’s 50-day moving average is $30.12 and its 200-day moving average is $30.25. Tootsie Roll Industries, Inc. has a 1-year low of $27.58 and a 1-year high of $35.84. The stock has a market cap of $2.29 billion, a P/E ratio of 24.50 and a beta of 0.16.

Tootsie Roll Industries (NYSE:TR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.22 earnings per share (EPS) for the quarter. Tootsie Roll Industries had a net margin of 12.80% and a return on equity of 11.54%. The firm had revenue of $148.82 million during the quarter.

Tootsie Roll Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.36 annualized dividend and a dividend yield of 1.12%. Tootsie Roll Industries’s payout ratio is 27.54%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Tootsie Roll Industries from a “buy” rating to a “hold” rating in a research note on Sunday, June 30th.

Tootsie Roll Industries Company 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.