Raymond James Financial Inc. Invests $390,000 in Tootsie Roll Industries, Inc. (NYSE:TR)

Raymond James Financial Inc. purchased a new position in shares of Tootsie Roll Industries, Inc. (NYSE:TR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,065 shares of the company's stock, valued at approximately $390,000.

A number of other hedge funds have also made changes to their positions in TR. JPMorgan Chase & Co. raised its holdings in Tootsie Roll Industries by 278.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,567 shares of the company's stock worth $823,000 after acquiring an additional 19,547 shares during the period. SG Americas Securities LLC increased its stake in shares of Tootsie Roll Industries by 177.6% in the fourth quarter. SG Americas Securities LLC now owns 20,904 shares of the company's stock worth $676,000 after purchasing an additional 13,375 shares during the period. Principal Financial Group Inc. lifted its position in shares of Tootsie Roll Industries by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 78,909 shares of the company's stock worth $2,551,000 after purchasing an additional 2,342 shares during the last quarter. Bfsg LLC acquired a new position in shares of Tootsie Roll Industries during the 4th quarter worth about $5,543,000. Finally, Westhampton Capital LLC bought a new stake in Tootsie Roll Industries during the 4th quarter valued at approximately $504,000. Institutional investors and hedge funds own 14.28% of the company's stock.

Tootsie Roll Industries Price Performance

TR stock traded up $0.44 on Friday, reaching $31.02. 65,946 shares of the company were exchanged, compared to its average volume of 164,030. Tootsie Roll Industries, Inc. has a 12 month low of $26.78 and a 12 month high of $33.22. The stock's fifty day moving average price is $31.19 and its 200 day moving average price is $31.30. The firm has a market capitalization of $2.22 billion, a PE ratio of 25.43 and a beta of 0.33.

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Tootsie Roll Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, March 5th. Tootsie Roll Industries's dividend payout ratio is currently 30.51%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Tootsie Roll Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, April 8th.

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.