BlackRock Discloses 7.2% Passive Stake in Tootsie Roll
Ticker: TROLB · Form: SC 13G · Filed: Jan 31, 2024 · CIK: 98677
| Field | Detail |
|---|---|
| Company | Tootsie Roll Industries Inc (TROLB) |
| Form Type | SC 13G |
| Filed Date | Jan 31, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**BlackRock owns 7.2% of Tootsie Roll, signaling institutional confidence.**
AI Summary
BlackRock Inc. reported on January 31, 2024, that as of December 31, 2023, it holds a significant stake in Tootsie Roll Industries Inc. (TR). This filing indicates BlackRock's continued passive investment in the candy maker, holding 3,090,397 shares of Common Stock, representing 7.2% of the company. This matters to investors because BlackRock is a major institutional investor, and their substantial, albeit passive, holding signals a long-term belief in Tootsie Roll's stability and potential, which can influence other investors' perceptions.
Why It Matters
BlackRock's substantial, passive stake in Tootsie Roll Industries Inc. suggests institutional confidence in the company's long-term value, which can be a positive signal for current and prospective shareholders.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a major institution, which generally reduces perceived risk due to stable ownership.
Analyst Insight
A smart investor would view BlackRock's passive 7.2% stake as a sign of institutional confidence, but should still conduct their own due diligence on Tootsie Roll's fundamentals and future prospects, as this filing doesn't indicate any active management or strategic changes.
Key Numbers
- 3,090,397 — Shares Owned (BlackRock's beneficial ownership in Tootsie Roll)
- 7.2% — Ownership Percentage (BlackRock's stake in Tootsie Roll's Common Stock)
Key Players & Entities
- BlackRock Inc. (company) — reporting person, institutional investor
- Tootsie Roll Industries Inc. (company) — subject company, candy manufacturer
- 3,090,397 (dollar_amount) — number of shares beneficially owned by BlackRock
- 7.2% (dollar_amount) — percentage of Tootsie Roll's class of securities owned by BlackRock
- December 31, 2023 (person) — date of event requiring the filing
- January 31, 2024 (person) — filing date
Forward-Looking Statements
- BlackRock will maintain its passive stake in Tootsie Roll Industries Inc. for the foreseeable future. (BlackRock Inc.) — high confidence, target: December 31, 2024
FAQ
Who filed this SC 13G statement?
This SC 13G statement was filed by BlackRock Inc., as indicated in the 'FILED BY' section of the filing.
What company is the subject of this filing?
The subject company of this filing is Tootsie Roll Industries Inc., as stated under 'SUBJECT COMPANY' and 'Name of Issuer'.
What was the date of the event that required this filing?
The date of the event which required this filing was December 31, 2023, as specified in the 'Date of Event Which Requires Filing of this Statement' section.
What percentage of Tootsie Roll Industries Inc.'s Common Stock does BlackRock Inc. beneficially own?
BlackRock Inc. beneficially owns 7.2% of Tootsie Roll Industries Inc.'s Common Stock, as indicated in the filing.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the Common Stock of Tootsie Roll Industries Inc. is 890516107, as listed in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 31, 2024 by December 31, 2023 regarding TOOTSIE ROLL INDUSTRIES INC (TROLB).