On September 3, 2023, it was reported that investment management firm ProShare Advisors LLC had increased its holdings in Tootsie Roll Industries, Inc. (NYSE: TR) by 10.4% during the first quarter of the year. The information was disclosed in the company’s Form 13F filing with the Securities and Exchange Commission (SEC). As a result of this boost in holdings, ProShare Advisors LLC now owned approximately 225,699 shares of Tootsie Roll Industries’ stock, having purchased an additional 21,241 shares during the quarter. This amounted to approximately 0.32% ownership of the company and had a value of around $10,136,000 at the end of the quarter.
Tootsie Roll Industries (NYSE: TR) recently released its earnings results on July 25th. During this period, the company reported earnings per share (EPS) of $0.21. With a return on equity of 10.19% and a net margin of 11.14%, Tootsie Roll Industries demonstrated a strong financial performance for the quarter. In terms of revenue, the firm generated $158.84 million.
The increase in holdings by ProShare Advisors LLC in Tootsie Roll Industries reflects their confidence in the company’s future prospects and financial performance. It signifies that ProShare Advisors believes Tootsie Roll Industries has potential for growth and sustainable profitability.
Tootsie Roll Industries is a renowned confectionery manufacturer known for its iconic brands such as Tootsie Rolls, Junior Mints, Charms Blow Pops, and Dots candies. Founded over a century ago in New York City by an Austrian immigrant named Leo Hirshfield, the company has grown to become one of America’s leading candy producers.
This recent development highlights ProShare Advisors LLC’s strategic investment decisions and their commitment to maximizing returns for their clients through diversified portfolios including investments in publicly traded companies such as Tootsie Roll Industries.
Investors and analysts will closely monitor Tootsie Roll Industries’ performance going forward, examining factors such as market trends, consumer preferences, and financial indicators to identify potential opportunities and risks within the confectionery industry. The company’s ability to adapt to changing market dynamics while maintaining its brand equity will be crucial in ensuring long-term success.
Disclaimer: This article is for informational purposes only and should not be considered as financial or investment advice.
Recent Developments in Ownership and Stock Performance of Tootsie Roll Industries
Tootsie Roll Industries, a renowned confectionery company, has witnessed some interesting developments in its ownership recently. Various institutional investors have either increased or decreased their stakes in the business, prompting intrigue in the industry.
Captrust Financial Advisors, for instance, significantly grew its holdings in Tootsie Roll Industries during the second quarter. The firm’s stake in the company surged by 86.2%, with the acquisition of an additional 369 shares. This move propelled Captrust Financial Advisors’ total ownership to 797 shares valued at $28,000.
Creative Financial Designs Inc. ADV also made headlines by entering a new stake in Tootsie Roll Industries earlier this year. The investment marked their inclination toward the confectionery giant and amounted to $32,000.
Notably, Quadrant Capital Group LLC demonstrated its confidence in Tootsie Roll Industries by expanding its position within the company by 32.1% during Q4 of the previous year. By acquiring an extra 238 shares, Quadrant Capital Group LLC now owns a total of 980 shares worth $42,000.
Denali Advisors LLC joined the roster of institutional investors showcasing interest in Tootsie Roll Industries. In Q4 last year, they purchased a new stake amounting to approximately $47,000.
Finally, Quantbot Technologies LP decided to participate by obtaining a new stake valued at roughly $101,000 during Q2 of this year.
These moves indicate that institutional investors currently own around 16.10% of Tootsie Roll Industries’ stock.
On Friday morning’s trading session, Tootsie Roll Industries opened at $32.15 per share—an important figure for potential investors seeking market entry points. Over the past year, the company’s stock price has fluctuated between a low of $31.96 and a high of $46.11—a significant range that captures attention.
As for its financial standing within the market, Tootsie Roll Industries holds a market capitalization of approximately $2.25 billion. Investors should note that the company’s price-to-earnings ratio stands at 28.25, signifying a certain level of industry competitiveness. Moreover, its beta is calculated at 0.10, suggesting relatively low risk compared to other investments.
Observers cannot overlook the role of moving averages when evaluating stock performance. Tootsie Roll Industries’ 50-day moving average price currently sits at $34.14, providing insight into recent market trends and investor sentiment. Similarly, the two-hundred day moving average price is recorded at $39.12—a critical metric for long-term investors assessing market stability.
Furthermore, Tootsie Roll Industries recently disclosed a quarterly dividend on July 6th. Shareholders who were registered as of June 20th received a dividend payment amounting to $0.09 per share. This equates to an annualized dividend of $0.36 and reflects a yield of 1.12%. Investors should note that the ex-dividend date was set on June 16th—a crucial factor to consider when planning investment strategies.
In light of recent developments, various equities research analysts have weighed in on Tootsie Roll Industries’ stock performance and future prospects. StockNews.com recently initiated coverage on the company and issued a “hold” rating.
Additionally, TheStreet downgraded Tootsie Roll Industries from a “b” rating to a “c+” rating in May—an assessment that garnered attention within the investment community.
As September unfolds, stakeholders are waiting with anticipation for further developments that may affect Tootsie Roll Industries’ stock performance and overall market standing in the confectionery industry.