Tootsie Roll Industries (NYSE:TR) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Tootsie Roll Industries, Inc. (NYSE:TR) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $39.89 and traded as low as $38.46. Tootsie Roll Industries shares last traded at $39.0210, with a volume of 193,855 shares changing hands.

Tootsie Roll Industries Trading Up 0.7%

The firm has a 50 day moving average price of $41.03 and a 200-day moving average price of $39.89. The firm has a market cap of $2.93 billion, a PE ratio of 29.18 and a beta of 0.41.

Tootsie Roll Industries (NYSE:TR) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $151.54 million during the quarter. Tootsie Roll Industries had a return on equity of 10.77% and a net margin of 13.70%.

Tootsie Roll Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, June 18th. Tootsie Roll Industries’s dividend payout ratio (DPR) is presently 26.87%.

Hedge Funds Weigh In On Tootsie Roll Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Arete Wealth Advisors LLC boosted its stake in shares of Tootsie Roll Industries by 28.8% in the 1st quarter. Arete Wealth Advisors LLC now owns 14,182 shares of the company’s stock valued at $607,000 after buying an additional 3,168 shares during the period. Bank of America Corp DE raised its position in shares of Tootsie Roll Industries by 1.4% during the 1st quarter. Bank of America Corp DE now owns 143,622 shares of the company’s stock worth $6,136,000 after acquiring an additional 1,924 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Tootsie Roll Industries by 48.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 958 shares of the company’s stock worth $41,000 after acquiring an additional 311 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Tootsie Roll Industries by 2.2% during the 1st quarter. California State Teachers Retirement System now owns 17,485 shares of the company’s stock worth $747,000 after acquiring an additional 375 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Tootsie Roll Industries by 1,068.8% during the 1st quarter. Empowered Funds LLC now owns 6,405 shares of the company’s stock worth $274,000 after acquiring an additional 5,857 shares in the last quarter. Hedge funds and other institutional investors own 14.28% of the company’s stock.

About Tootsie Roll Industries

Tootsie Roll Industries, Inc is a U.S.-based confectionery company best known for producing Tootsie Rolls and Tootsie Pops. Headquartered in Chicago, the company manufactures a broad range of candy products, including fruit-flavored chews, gummies, mints and gum, under a portfolio of well-recognized brands. Its offerings are sold through mass-market retailers, convenience stores, specialty shops and vending channels.

The company traces its origins to 1896 when confectioner Leo Hirschfeld invented the Tootsie Roll in New York City.