Tootsie Roll Industries (NYSE:TR) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Tootsie Roll Industries, Inc. (NYSE:TR) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $39.90 and traded as high as $40.14. Tootsie Roll Industries shares last traded at $40.1040, with a volume of 204,888 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tootsie Roll Industries in a research report on Monday, June 15th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Tootsie Roll Industries Stock Performance

The company has a fifty day simple moving average of $39.56 and a two-hundred day simple moving average of $39.90. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 29.99 and a beta of 0.39.

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

Tootsie Roll Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, June 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Tootsie Roll Industries’s payout ratio is presently 26.87%.

Institutional Trading of Tootsie Roll Industries

Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of Tootsie Roll Industries by 4.4% during the first quarter. Royal Bank of Canada now owns 67,993 shares of the company’s stock worth $2,140,000 after acquiring an additional 2,893 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Tootsie Roll Industries by 56.6% in the first quarter. AQR Capital Management LLC now owns 17,428 shares of the company’s stock valued at $549,000 after purchasing an additional 6,299 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Tootsie Roll Industries by 29.1% in the first quarter. Goldman Sachs Group Inc. now owns 215,015 shares of the company’s stock valued at $6,769,000 after purchasing an additional 48,484 shares during the last quarter. Rhumbline Advisers grew its stake in Tootsie Roll Industries by 95.8% during the 2nd quarter. Rhumbline Advisers now owns 44,865 shares of the company’s stock valued at $1,501,000 after purchasing an additional 21,947 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Tootsie Roll Industries by 25.4% during the 2nd quarter. American Century Companies Inc. now owns 34,030 shares of the company’s stock valued at $1,138,000 after purchasing an additional 6,889 shares in the last quarter. 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.