Tootsie Roll Industries (NYSE:TR) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Tootsie Roll Industries, Inc. (NYSE:TR)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.04 and traded as low as $38.53. Tootsie Roll Industries shares last traded at $38.97, with a volume of 125,023 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tootsie Roll Industries in a research report on Monday, June 15th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Tootsie Roll Industries currently has a consensus rating of “Hold”.

Tootsie Roll Industries Price Performance

The firm has a market capitalization of $2.93 billion, a P/E ratio of 29.15 and a beta of 0.39. The business has a 50 day moving average price of $38.69 and a 200 day moving average price of $40.04.

Tootsie Roll Industries (NYSE:TR) last announced its earnings results on Friday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter. The business 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 disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend 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 presently 26.87%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its position in Tootsie Roll Industries by 680.2% in the 2nd quarter. Versant Capital Management Inc now owns 944 shares of the company’s stock valued at $37,000 after purchasing an additional 823 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Tootsie Roll Industries by 48.1% during the first quarter. EverSource Wealth Advisors LLC now owns 958 shares of the company’s stock worth $41,000 after purchasing an additional 311 shares during the last quarter. State of Wyoming acquired a new stake in shares of Tootsie Roll Industries in the fourth quarter valued at $58,000. Sound Income Strategies LLC increased its stake in shares of Tootsie Roll Industries by 1,931.9% in the first quarter. Sound Income Strategies LLC now owns 1,402 shares of the company’s stock valued at $60,000 after buying an additional 1,333 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new position in shares of Tootsie Roll Industries in the third quarter valued at about $136,000. Institutional investors own 14.28% of the company’s stock.

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.