Tootsie Roll Industries (NYSE:TR) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Tootsie Roll Industries, Inc. (NYSE:TR) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.04 and traded as low as $38.53. Tootsie Roll Industries shares last traded at $38.97, with a volume of 125,023 shares trading hands.

Wall Street Analyst Weigh In

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

Tootsie Roll Industries Price Performance

The business has a 50 day moving average of $38.69 and a 200 day moving average of $40.04. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 29.15 and a beta of 0.39.

Tootsie Roll Industries (NYSE:TR) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.24 earnings per share for the quarter. The business had revenue of $151.54 million for 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 was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 18th. Tootsie Roll Industries’s payout ratio is currently 26.87%.

Hedge Funds Weigh In On Tootsie Roll Industries

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Tootsie Roll Industries by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 2,164,370 shares of the company’s stock worth $79,281,000 after purchasing an additional 37,493 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Tootsie Roll Industries by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,152,714 shares of the company’s stock valued at $49,245,000 after purchasing an additional 26,653 shares in the last quarter. State Street Corp increased its stake in Tootsie Roll Industries by 5.1% in the 4th quarter. State Street Corp now owns 710,367 shares of the company’s stock valued at $26,084,000 after buying an additional 34,770 shares during the last quarter. Geode Capital Management LLC increased its stake in Tootsie Roll Industries by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 584,303 shares of the company’s stock valued at $21,406,000 after buying an additional 28,796 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Tootsie Roll Industries by 8.4% in the 4th quarter. Invesco Ltd. now owns 343,389 shares of the company’s stock valued at $12,578,000 after buying an additional 26,573 shares during the last quarter. Institutional investors and hedge funds own 14.28% of the company’s stock.

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.