Tootsie Roll Industries, Inc. (NYSE:TR) Cut to Hold at BidaskClub

Tootsie Roll Industries, Inc. (NYSE:TR) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, July 31st.

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Shares of Tootsie Roll Industries (TR) remained flat at $36.00 on Monday. The company’s stock had a trading volume of 596,027 shares. The company has a market cap of $2.27 billion, a P/E ratio of 33.49 and a beta of 0.70. Tootsie Roll Industries has a 12-month low of $33.19 and a 12-month high of $40.44. The firm has a 50 day moving average of $36.38 and a 200 day moving average of $36.67.

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A number of hedge funds have recently bought and sold shares of TR. Russell Investments Group Ltd. boosted its stake in Tootsie Roll Industries by 22.2% in the second quarter. Russell Investments Group Ltd. now owns 21,341 shares of the company’s stock valued at $744,000 after buying an additional 3,884 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Tootsie Roll Industries by 2.8% in the second quarter. Janney Montgomery Scott LLC now owns 7,042 shares of the company’s stock valued at $245,000 after buying an additional 193 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Tootsie Roll Industries by 7.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 86,391 shares of the company’s stock valued at $3,011,000 after buying an additional 6,240 shares in the last quarter. SG Americas Securities LLC boosted its stake in Tootsie Roll Industries by 3.0% in the second quarter. SG Americas Securities LLC now owns 7,835 shares of the company’s stock valued at $273,000 after buying an additional 227 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Tootsie Roll Industries by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 330,305 shares of the company’s stock valued at $11,511,000 after buying an additional 24,432 shares in the last quarter. Hedge funds and other institutional investors own 21.51% of the company’s stock.

About Tootsie Roll Industries

Tootsie Roll Industries, Inc and its subsidiaries are engaged in the manufacture and sale of confectionery products. The Company offers a range of candy, chocolate and bubble gum brands. Its products are marketed in a range of packages designed to be suitable for display and sale in different types of retail outlets.