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

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.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat, Tootsie Roll Industries currently has a consensus rating of “Hold”.

Tootsie Roll Industries Price Performance

The stock has a market cap of $2.92 billion, a P/E ratio of 29.02 and a beta of 0.39. The business’s fifty day moving average price is $38.95 and its 200 day moving average price is $39.97.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TR. Strs Ohio raised its position in shares of Tootsie Roll Industries by 3.0% in the 1st quarter. Strs Ohio now owns 8,961 shares of the company’s stock worth $383,000 after acquiring an additional 261 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Tootsie Roll Industries by 48.1% during 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 in the last quarter. GAMMA Investing LLC boosted its position in shares of Tootsie Roll Industries by 8.1% during 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 in the last quarter. Parallel Advisors LLC grew its stake in Tootsie Roll Industries by 9.7% during the third quarter. Parallel Advisors LLC now owns 4,115 shares of the company’s stock worth $173,000 after purchasing an additional 364 shares during the period. Finally, California State Teachers Retirement System grew its stake in Tootsie Roll Industries by 2.2% during the first quarter. California State Teachers Retirement System now owns 17,485 shares of the company’s stock worth $747,000 after purchasing an additional 375 shares during the period. 14.28% of the stock is currently owned by institutional investors and hedge funds.

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.