Tootsie Roll Industries (NYSE:TR) Shares Pass Below 200-Day Moving Average – Time to Sell?

Tootsie Roll Industries, Inc. (NYSE:TR)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $39.01 and traded as low as $38.94. Tootsie Roll Industries shares last traded at $39.28, with a volume of 155,131 shares trading hands.

Analyst Ratings Changes

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

Tootsie Roll Industries Stock Performance

The stock has a market cap of $2.87 billion, a P/E ratio of 30.43 and a beta of 0.53. The business has a 50 day simple moving average of $37.44 and a 200-day simple moving average of $39.01.

Tootsie Roll Industries (NYSE:TR) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.49 earnings per share for the quarter. The company had revenue of $232.71 million for 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 company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Wednesday, December 24th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, December 24th. Tootsie Roll Industries’s dividend payout ratio (DPR) is currently 27.91%.

Institutional Investors Weigh In On Tootsie Roll Industries

Several large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Tootsie Roll Industries by 1,369,340.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 301,277 shares of the company’s stock valued at $11,036,000 after purchasing an additional 301,255 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Tootsie Roll Industries by 75.4% in the second quarter. Geode Capital Management LLC now owns 472,180 shares of the company’s stock valued at $15,797,000 after purchasing an additional 203,042 shares during the period. ProShare Advisors LLC bought a new stake in Tootsie Roll Industries during the 2nd quarter valued at $6,289,000. Millennium Management LLC lifted its position in shares of Tootsie Roll Industries by 121.9% during the third quarter. Millennium Management LLC now owns 328,323 shares of the company’s stock worth $13,763,000 after acquiring an additional 180,351 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Tootsie Roll Industries by 98.1% in the third quarter. Invesco Ltd. now owns 316,816 shares of the company’s stock worth $13,281,000 after acquiring an additional 156,929 shares during the period. Hedge funds and other institutional investors own 14.28% of the company’s stock.

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.