Tootsie Roll Industries (NYSE:TR) Stock Price Crosses 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 Wednesday. The stock has a 200-day moving average of $39.84 and traded as low as $36.84. Tootsie Roll Industries shares last traded at $36.8960, with a volume of 186,561 shares changing hands.

Analysts Set New Price Targets

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 analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Tootsie Roll Industries presently has a consensus rating of “Buy”.

Tootsie Roll Industries Trading Down 0.3%

The firm has a market capitalization of $2.81 billion, a P/E ratio of 29.20 and a beta of 0.41. The business has a 50-day moving average of $39.14 and a 200 day moving average of $39.82.

Tootsie Roll Industries (NYSE:TR) last announced 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 return on equity of 10.16% and a net margin of 13.14%.

Tootsie Roll Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, October 7th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.36 annualized dividend and a yield of 1.0%. Tootsie Roll Industries’s payout ratio is currently 28.12%.

Hedge Funds Weigh In On Tootsie Roll Industries

Several institutional investors have recently bought and sold shares of TR. BlackRock Inc. purchased a new position in shares of Tootsie Roll Industries in the second quarter valued at $84,370,000. Dimensional Fund Advisors LP grew its position in Tootsie Roll Industries by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,152,714 shares of the company’s stock valued at $49,245,000 after acquiring an additional 26,653 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Tootsie Roll Industries by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 187,621 shares of the company’s stock valued at $8,015,000 after acquiring an additional 1,039 shares during the period. Bank of America Corp DE increased its position in shares of Tootsie Roll Industries by 1.4% in the first quarter. Bank of America Corp DE now owns 143,622 shares of the company’s stock valued at $6,136,000 after acquiring an additional 1,924 shares during the period. Finally, Gabelli Funds LLC lifted its stake in Tootsie Roll Industries by 3.0% in the first quarter. Gabelli Funds LLC now owns 99,395 shares of the company’s stock worth $4,246,000 after acquiring an additional 2,895 shares during the period. Hedge funds and other institutional investors own 14.28% of the company’s stock.

Tootsie Roll Industries Company Profile

Tootsie Roll Industries, Inc is a confectionery manufacturer and marketer headquartered in Chicago, Illinois. Founded in 1896 by Leo Hirshfield, the company is best known for its Tootsie Roll candy and has built a broad portfolio of branded sweets sold through grocery stores, convenience stores, mass retailers, vending channels and other outlets.

Its products include Tootsie Rolls, Tootsie Pops, Caramel Apple Pops, Dots, Junior Mints, Sugar Babies, Sugar Daddy, Charleston Chew, Andes mints, Dubble Bubble gum, Razzles and Cry Baby gum.