Bessemer Group Inc. acquired a new stake in Tootsie Roll Industries, Inc. (NYSE:TR) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 36,700 shares of the company’s stock, valued at approximately $1,226,000.
Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in Tootsie Roll Industries by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 323,782 shares of the company’s stock worth $9,989,000 after purchasing an additional 8,812 shares during the period. First Trust Advisors LP increased its position in Tootsie Roll Industries by 44.8% in the third quarter. First Trust Advisors LP now owns 66,750 shares of the company’s stock worth $1,952,000 after purchasing an additional 20,644 shares during the period. US Bancorp DE increased its position in Tootsie Roll Industries by 53.6% in the third quarter. US Bancorp DE now owns 4,939 shares of the company’s stock worth $145,000 after purchasing an additional 1,723 shares during the period. Victory Capital Management Inc. increased its position in Tootsie Roll Industries by 14.6% in the third quarter. Victory Capital Management Inc. now owns 24,470 shares of the company’s stock worth $716,000 after purchasing an additional 3,121 shares during the period. Finally, Stone Ridge Asset Management LLC acquired a new stake in Tootsie Roll Industries in the third quarter worth about $243,000. 22.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of TR stock opened at $36.33 on Friday. The stock has a market capitalization of $2.26 billion, a P/E ratio of 31.83 and a beta of 0.36. Tootsie Roll Industries, Inc. has a 12 month low of $27.45 and a 12 month high of $38.15.
Separately, TheStreet upgraded Tootsie Roll Industries from a “c+” rating to a “b” rating in a research report on Thursday, December 13th.
TRADEMARK VIOLATION NOTICE: This news story was published by WKRB News and is the property of of WKRB News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.wkrb13.com/2019/03/15/bessemer-group-inc-purchases-shares-of-36700-tootsie-roll-industries-inc-tr.html.
Tootsie Roll Industries Profile
Tootsie Roll Industries, Inc, together with its subsidiaries, manufactures and sells confectionery products primarily in the United States, Canada, and Mexico. The company sells its products under the Tootsie Roll, Tootsie 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.
Want to see what other hedge funds are holding TR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tootsie Roll Industries, Inc. (NYSE:TR).
Receive News & Ratings for Tootsie Roll Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tootsie Roll Industries and related companies with MarketBeat.com's FREE daily email newsletter.