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

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

Tootsie Roll Industries Stock Performance

Shares of TR stock opened at $30.34 on Tuesday. Tootsie Roll Industries has a fifty-two week low of $26.78 and a fifty-two week high of $33.22. The stock’s fifty day moving average is $31.20 and its two-hundred day moving average is $31.32. The firm has a market capitalization of $2.17 billion, a P/E ratio of 24.86 and a beta of 0.33.

Institutional Trading of Tootsie Roll Industries

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Tootsie Roll Industries by 3,573.7% in the first quarter. GAMMA Investing LLC now owns 66,383 shares of the company’s stock valued at $2,109,000 after purchasing an additional 64,576 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Tootsie Roll Industries in the 4th quarter worth $284,000. Two Sigma Advisers LP raised its holdings in shares of Tootsie Roll Industries by 72.0% during the 4th quarter. Two Sigma Advisers LP now owns 45,148 shares of the company’s stock worth $1,460,000 after acquiring an additional 18,900 shares during the period. Man Group plc acquired a new position in shares of Tootsie Roll Industries during the 4th quarter valued at about $389,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Tootsie Roll Industries in the fourth quarter valued at about $692,000. Institutional investors and hedge funds own 14.28% of the company’s stock.

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.