Tootsie Roll Industries (NYSE:TR) Shares Cross Below 200-Day Moving Average – Should You Sell?

Tootsie Roll Industries, Inc. (NYSE:TR) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.96 and traded as low as $37.92. Tootsie Roll Industries shares last traded at $38.0310, with a volume of 169,748 shares.

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 analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Tootsie Roll Industries Trading Down 0.3%

The stock’s 50-day moving average price is $39.03 and its 200-day moving average price is $39.96. The company has a market cap of $2.86 billion, a P/E ratio of 28.44 and a beta of 0.39.

Tootsie Roll Industries (NYSE:TR) last issued its 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 business had revenue of $151.54 million during the quarter.

Tootsie Roll Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 18th. Tootsie Roll Industries’s dividend payout ratio (DPR) is 26.87%.

Hedge Funds Weigh In On Tootsie Roll Industries

A number of institutional investors have recently modified their holdings of the company. Handelsbanken Fonder AB lifted its holdings in shares of Tootsie Roll Industries by 6.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 6,773 shares of the company’s stock worth $268,000 after purchasing an additional 399 shares in the last quarter. GAMMA Investing LLC grew its position in Tootsie Roll Industries by 8.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,549 shares of the company’s stock valued at $180,000 after purchasing an additional 339 shares during the period. Versant Capital Management Inc increased its stake in Tootsie Roll Industries by 680.2% during the 2nd quarter. Versant Capital Management Inc now owns 944 shares of the company’s stock valued at $37,000 after purchasing an additional 823 shares in the last quarter. Empowered Funds LLC increased its stake in Tootsie Roll Industries by 1,069.0% during the 1st quarter. Empowered Funds LLC now owns 6,406 shares of the company’s stock valued at $274,000 after purchasing an additional 5,858 shares in the last quarter. Finally, Arete Wealth Advisors LLC raised its holdings in Tootsie Roll Industries by 28.8% during the first quarter. Arete Wealth Advisors LLC now owns 14,182 shares of the company’s stock worth $607,000 after buying an additional 3,168 shares during the last quarter. 14.28% of the stock is owned by institutional investors and hedge funds.

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.