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

Tootsie Roll Industries, Inc. (NYSE:TR) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $38.46 and traded as low as $37.04. Tootsie Roll Industries shares last traded at $37.5950, with a volume of 111,780 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Tootsie Roll Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Tootsie Roll Industries Trading Up 0.5%

The firm has a fifty day simple moving average of $38.08 and a 200 day simple moving average of $38.49. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 29.13 and a beta of 0.44.

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

Tootsie Roll Industries Announces Dividend

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

Institutional Trading of Tootsie Roll Industries

Several institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake 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 acquiring an additional 203,042 shares during the period. ProShare Advisors LLC bought a new stake in shares of Tootsie Roll Industries in the 2nd quarter valued at approximately $6,289,000. Millennium Management LLC raised its holdings in shares of Tootsie Roll Industries by 121.9% in 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 in 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 period. Finally, Teacher Retirement System of Texas lifted its position in shares of Tootsie Roll Industries by 260.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 114,589 shares of the company’s stock worth $3,833,000 after buying an additional 82,823 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.