Tootsie Roll Industries (NYSE:TR) Raised to “Buy” at StockNews.com

Tootsie Roll Industries (NYSE:TR) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Tootsie Roll Industries Price Performance

NYSE:TR opened at $30.34 on Tuesday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 24.86 and a beta of 0.33. The company’s fifty day moving average price is $31.20 and its 200-day moving average price is $31.32. Tootsie Roll Industries has a 1-year low of $26.78 and a 1-year high of $33.22.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TR. Vanguard Group Inc. lifted its stake in shares of Tootsie Roll Industries by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 2,109,375 shares of the company’s stock valued at $68,196,000 after purchasing an additional 211,129 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Tootsie Roll Industries by 3.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,140,100 shares of the company’s stock worth $37,179,000 after acquiring an additional 41,326 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Tootsie Roll Industries by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,573 shares of the company’s stock worth $33,577,000 after acquiring an additional 37,924 shares in the last quarter. HFR Wealth Management LLC grew its position in shares of Tootsie Roll Industries by 0.6% during the 4th quarter. HFR Wealth Management LLC now owns 281,313 shares of the company’s stock valued at $9,095,000 after acquiring an additional 1,617 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Tootsie Roll Industries by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 251,414 shares of the company’s stock valued at $8,132,000 after purchasing an additional 6,541 shares in the last quarter. 14.28% of the stock is 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.