Tootsie Roll Industries (NYSE:TR) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

Shares of Tootsie Roll Industries, Inc. (NYSE:TR) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $38.94 and traded as low as $36.85. Tootsie Roll Industries shares last traded at $37.1390, with a volume of 81,974 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tootsie Roll Industries in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Tootsie Roll Industries currently has a consensus rating of “Hold”.

Tootsie Roll Industries Trading Down 0.9%

The firm’s fifty day simple moving average is $37.48 and its 200 day simple moving average is $38.94. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 28.77 and a beta of 0.46.

Tootsie Roll Industries (NYSE:TR) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.49 earnings per share for the quarter. The business had revenue of $232.71 million for the quarter. Tootsie Roll Industries had a net margin of 12.99% and a return on equity of 10.53%.

Tootsie Roll Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Wednesday, December 24th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, December 24th. Tootsie Roll Industries’s payout ratio is 27.91%.

Institutional Investors Weigh In On Tootsie Roll Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in Tootsie Roll Industries by 75.4% in the second quarter. Geode Capital Management LLC now owns 472,180 shares of the company’s stock valued at $15,797,000 after purchasing an additional 203,042 shares in the last quarter. Millennium Management LLC lifted its position in shares of Tootsie Roll Industries by 121.9% during the 3rd 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 during the last quarter. Invesco Ltd. lifted its position in shares of Tootsie Roll Industries by 98.1% during the 3rd quarter. Invesco Ltd. now owns 316,816 shares of the company’s stock worth $13,281,000 after buying an additional 156,929 shares during the last quarter. HFR Wealth Management LLC boosted its holdings in shares of Tootsie Roll Industries by 0.4% in the 3rd quarter. HFR Wealth Management LLC now owns 294,188 shares of the company’s stock valued at $12,332,000 after buying an additional 1,219 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Tootsie Roll Industries by 2.0% in the 3rd quarter. Two Sigma Investments LP now owns 226,983 shares of the company’s stock valued at $9,515,000 after buying an additional 4,368 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.