Tootsie Roll Industries (NYSE:TR) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Tootsie Roll Industries, Inc. (NYSE:TR)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $39.85 and traded as low as $36.56. Tootsie Roll Industries shares last traded at $37.07, with a volume of 284,460 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Tootsie Roll Industries in a research note on Monday, June 15th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Tootsie Roll Industries Stock Performance

The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 27.72 and a beta of 0.41. The business’s 50 day moving average is $40.05 and its 200-day moving average is $39.85.

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

Tootsie Roll Industries Announces Dividend

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. The ex-dividend date is Thursday, June 18th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Tootsie Roll Industries’s dividend payout ratio (DPR) is presently 26.87%.

Hedge Funds Weigh In On Tootsie Roll Industries

Several large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of Tootsie Roll Industries by 1,369,340.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 301,277 shares of the company’s stock valued at $11,036,000 after purchasing an additional 301,255 shares in the last quarter. Millennium Management LLC boosted its stake in Tootsie Roll Industries by 121.9% during the third quarter. Millennium Management LLC now owns 328,323 shares of the company’s stock worth $13,763,000 after buying an additional 180,351 shares in the last quarter. Invesco Ltd. boosted its stake in Tootsie Roll Industries by 98.1% during the third quarter. Invesco Ltd. now owns 316,816 shares of the company’s stock worth $13,281,000 after buying an additional 156,929 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Tootsie Roll Industries in the 4th quarter valued at $3,077,000. Finally, Goldman Sachs Group Inc. lifted its stake in Tootsie Roll Industries by 29.1% during the first quarter. Goldman Sachs Group Inc. now owns 215,015 shares of the company’s stock worth $6,769,000 after purchasing an additional 48,484 shares during the period. 14.28% of the stock is currently owned by institutional investors and hedge funds.

Tootsie Roll Industries Company Profile

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.