Tootsie Roll Industries (NYSE:TR) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Tootsie Roll Industries, Inc. (NYSE:TR) shares passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $39.61 and traded as low as $37.19. Tootsie Roll Industries shares last traded at $37.2640, with a volume of 163,054 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Tootsie Roll Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat, Tootsie Roll Industries currently has an average rating of “Buy”.

Tootsie Roll Industries Price Performance

The company has a market cap of $2.71 billion, a P/E ratio of 28.07 and a beta of 0.41. The stock has a fifty day moving average price of $38.85 and a two-hundred day moving average price of $39.57.

Tootsie Roll Industries (NYSE:TR) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.18 EPS for the quarter. The firm had revenue of $154.22 million during the quarter. Tootsie Roll Industries had a net margin of 13.14% and a return on equity of 10.16%.

Tootsie Roll Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, October 7th were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, October 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Tootsie Roll Industries’s dividend payout ratio (DPR) is presently 28.12%.

Institutional Investors Weigh In On Tootsie Roll Industries

Several large investors have recently added to or reduced their stakes in TR. Legal & General Group Plc bought a new position in shares of Tootsie Roll Industries in the second quarter worth $1,635,000. Engineers Gate Manager LP purchased a new position in shares of Tootsie Roll Industries during the second quarter worth about $2,669,000. Landscape Capital Management L.L.C. bought a new stake in Tootsie Roll Industries during the second quarter valued at approximately $2,453,000. GSA Capital Partners LLP purchased a new position in Tootsie Roll Industries in the 2nd quarter worth approximately $1,021,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Tootsie Roll Industries during the 2nd quarter valued at $2,544,000. Hedge funds and other institutional investors own 14.28% of the company’s stock.

Tootsie Roll Industries Company Profile

Tootsie Roll Industries, Inc manufactures and sells confectionery products in the United States and internationally. Its portfolio includes chocolate, candy, gum and other sweets marketed under brands such as Tootsie Roll, Tootsie Pop, Dots, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes and Charms Blow Pop.

The company traces its origins to 1896, when Leo Hirschfield began producing candy in New York City. Tootsie Roll, one of its best-known products, was introduced in the late 19th century and named after Hirschfield’s daughter, Clara, whose nickname was “Tootsie.” The company later expanded through brand development and acquisitions, building a broad portfolio of widely recognized confectionery products.

Tootsie Roll Industries is headquartered in Chicago, Illinois.