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

Shares of Tootsie Roll Industries, Inc. (NYSE:TR) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $38.86 and traded as low as $37.18. Tootsie Roll Industries shares last traded at $37.80, with a volume of 94,193 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tootsie Roll Industries in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Tootsie Roll Industries Stock Performance

The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 29.29 and a beta of 0.46. The company has a 50 day moving average price of $37.72 and a two-hundred day moving average price of $38.86.

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

Tootsie Roll Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Wednesday, December 24th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, December 24th. Tootsie Roll Industries’s dividend payout ratio is 27.91%.

Institutional Investors Weigh In On Tootsie Roll Industries

Several large investors have recently bought and sold shares of the company. Signaturefd LLC grew its stake in shares of Tootsie Roll Industries by 14.1% in the second quarter. Signaturefd LLC now owns 2,262 shares of the company’s stock valued at $76,000 after buying an additional 280 shares in the last quarter. Chevy Chase Trust Holdings LLC boosted its holdings in Tootsie Roll Industries by 3.0% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 10,684 shares of the company’s stock valued at $357,000 after acquiring an additional 310 shares during the period. Bank of Montreal Can grew its position in Tootsie Roll Industries by 1.6% in the 2nd quarter. Bank of Montreal Can now owns 19,372 shares of the company’s stock valued at $648,000 after acquiring an additional 312 shares in the last quarter. Parallel Advisors LLC increased its stake in Tootsie Roll Industries by 9.7% during the third quarter. Parallel Advisors LLC now owns 4,115 shares of the company’s stock worth $173,000 after purchasing an additional 364 shares during the period. Finally, Marble Harbor Investment Counsel LLC lifted its position in shares of Tootsie Roll Industries by 3.0% during the second quarter. Marble Harbor Investment Counsel LLC now owns 13,558 shares of the company’s stock worth $454,000 after purchasing an additional 391 shares in the last quarter. 14.28% of the stock is currently owned by hedge funds and other institutional investors.

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.