Tootsie Roll Industries (NYSE:TR) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

Tootsie Roll Industries, Inc. (NYSE:TR) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $39.85 and traded as low as $36.56. Tootsie Roll Industries shares last traded at $37.07, with a volume of 284,460 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, According to MarketBeat, the company currently has an average rating of “Hold”.

Tootsie Roll Industries Price Performance

The firm has a market capitalization of $2.77 billion, a PE ratio of 27.56 and a beta of 0.41. The company has a 50-day moving average price of $39.93 and a 200 day moving average price of $39.85.

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

Tootsie Roll Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be 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 is Thursday, June 18th. Tootsie Roll Industries’s dividend payout ratio (DPR) is 26.87%.

Hedge Funds Weigh In On Tootsie Roll Industries

Several hedge funds have recently modified their holdings of TR. SG Americas Securities LLC increased its stake in Tootsie Roll Industries by 645.2% during the fourth quarter. SG Americas Securities LLC now owns 42,462 shares of the company’s stock worth $1,555,000 after acquiring an additional 36,764 shares during the last quarter. Robertson Stephens Wealth Management LLC purchased a new position in shares of Tootsie Roll Industries in the 4th quarter worth approximately $935,000. JPMorgan Chase & Co. increased its position in shares of Tootsie Roll Industries by 130.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 60,864 shares of the company’s stock valued at $2,551,000 after purchasing an additional 34,450 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new position in shares of Tootsie Roll Industries during the 4th quarter valued at approximately $3,077,000. Finally, Vanguard Group Inc. raised its holdings in Tootsie Roll Industries by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 2,164,370 shares of the company’s stock valued at $79,281,000 after buying an additional 37,493 shares during the period. Hedge funds and other institutional investors own 14.28% of the company’s stock.

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.