Tootsie Roll Industries (NYSE:TR) Shares Cross Below 200 Day Moving Average – What’s Next?

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 $40.16 and traded as low as $38.90. Tootsie Roll Industries shares last traded at $39.0880, with a volume of 116,731 shares traded.

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 research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Tootsie Roll Industries Stock Performance

The firm has a 50 day moving average of $38.41 and a 200-day moving average of $40.16. The stock has a market capitalization of $2.94 billion, a PE ratio of 30.44 and a beta of 0.39.

Tootsie Roll Industries (NYSE:TR) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $0.18 EPS for the quarter. Tootsie Roll Industries had a net margin of 13.14% and a return on equity of 10.20%. The firm had revenue of $151.94 million for the quarter.

Tootsie Roll Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, June 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Tootsie Roll Industries’s dividend payout ratio (DPR) is currently 28.12%.

Institutional Investors Weigh In On Tootsie Roll Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Tootsie Roll Industries by 1,369,340.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 301,277 shares of the company’s stock worth $11,036,000 after purchasing an additional 301,255 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Tootsie Roll Industries by 121.9% during the 3rd quarter. Millennium Management LLC now owns 328,323 shares of the company’s stock worth $13,763,000 after purchasing an additional 180,351 shares during the period. Invesco Ltd. grew its position in Tootsie Roll Industries by 98.1% during the third quarter. Invesco Ltd. now owns 316,816 shares of the company’s stock worth $13,281,000 after buying an additional 156,929 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Tootsie Roll Industries in the 4th quarter valued at approximately $3,077,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Tootsie Roll Industries by 29.1% during the first quarter. Goldman Sachs Group Inc. now owns 215,015 shares of the company’s stock valued at $6,769,000 after purchasing an additional 48,484 shares during the period. 14.28% of the stock is currently owned by institutional investors and hedge funds.

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.