Allspring Global Investments Holdings LLC Increases Position in Tootsie Roll Industries, Inc. (NYSE:TR)

Allspring Global Investments Holdings LLC increased its stake in shares of Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) by 11.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,098,774 shares of the company's stock after buying an additional 115,839 shares during the period. Allspring Global Investments Holdings LLC owned about 1.54% of Tootsie Roll Industries worth $34,029,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Tootsie Roll Industries during the 2nd quarter valued at $33,000. nVerses Capital LLC purchased a new stake in Tootsie Roll Industries during the third quarter valued at about $43,000. AQR Capital Management LLC bought a new position in Tootsie Roll Industries during the second quarter worth about $205,000. SG Americas Securities LLC purchased a new position in shares of Tootsie Roll Industries in the third quarter worth about $233,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Tootsie Roll Industries in the second quarter valued at approximately $247,000. Institutional investors own 14.28% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Tootsie Roll Industries from a "buy" rating to a "hold" rating in a research note on Sunday, June 30th.

Tootsie Roll Industries Stock Up 0.8 %

TR traded up $0.24 during trading on Thursday, reaching $29.99. 131,413 shares of the company were exchanged, compared to its average volume of 157,540. Tootsie Roll Industries, Inc. has a 12-month low of $27.58 and a 12-month high of $35.84. The company's 50-day moving average is $30.48 and its two-hundred day moving average is $29.98. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 22.66 and a beta of 0.17.

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

Tootsie Roll Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Tuesday, October 8th. Tootsie Roll Industries's payout ratio is 27.20%.

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.