Tootsie Roll Industries (NYSE:TR) Stock Crosses Below 200-Day Moving Average – Time to Sell?

Tootsie Roll Industries, Inc. (NYSE:TR)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $39.96 and traded as low as $36.92. Tootsie Roll Industries shares last traded at $37.4830, with a volume of 179,750 shares trading hands.

Tootsie Roll Industries Stock Performance

The company has a 50 day moving average price of $41.68 and a 200 day moving average price of $39.96. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 28.03 and a beta of 0.41.

Tootsie Roll Industries (NYSE:TR) last announced 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 business had revenue of $151.54 million for the quarter.

Hedge Funds Weigh In On Tootsie Roll Industries

Several large investors have recently modified their holdings of the business. Arete Wealth Advisors LLC lifted its stake in shares of Tootsie Roll Industries by 28.8% in the 1st quarter. Arete Wealth Advisors LLC now owns 14,182 shares of the company’s stock valued at $607,000 after purchasing an additional 3,168 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Tootsie Roll Industries by 1.4% in the 1st quarter. Bank of America Corp DE now owns 143,622 shares of the company’s stock valued at $6,136,000 after purchasing an additional 1,924 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Tootsie Roll Industries by 48.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 958 shares of the company’s stock valued at $41,000 after purchasing an additional 311 shares during the last quarter. California State Teachers Retirement System lifted its stake in Tootsie Roll Industries by 2.2% during the 1st quarter. California State Teachers Retirement System now owns 17,485 shares of the company’s stock worth $747,000 after acquiring an additional 375 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Tootsie Roll Industries by 1,068.8% during the 1st quarter. Empowered Funds LLC now owns 6,405 shares of the company’s stock worth $274,000 after acquiring an additional 5,857 shares in 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.