Tootsie Roll Industries (NYSE:TR) Stock Crosses Above 50-Day Moving Average – Time to Sell?

Tootsie Roll Industries, Inc. (NYSE:TR)’s stock price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $38.03 and traded as high as $38.29. Tootsie Roll Industries shares last traded at $38.21, with a volume of 166,151 shares traded.

Wall Street Analyst Weigh In

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. According to MarketBeat.com, Tootsie Roll Industries has a consensus rating of “Buy”.

Tootsie Roll Industries Stock Performance

The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 29.76 and a beta of 0.41. The company has a 50 day moving average of $38.03 and a 200 day moving average of $39.67.

Tootsie Roll Industries (NYSE:TR) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.18 earnings per share for the quarter. The company had revenue of $154.22 million for 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 business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, October 7th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Tootsie Roll Industries’s payout ratio is currently 28.12%.

Institutional Trading of Tootsie Roll Industries

A number of large investors have recently made changes to their positions in TR. BlackRock Inc. acquired a new stake in Tootsie Roll Industries in the second quarter valued at approximately $84,370,000. ProShare Advisors LLC acquired a new position in Tootsie Roll Industries during the 3rd quarter worth approximately $9,386,000. Bank of New York Mellon Corp acquired a new position in Tootsie Roll Industries during the 2nd quarter worth approximately $6,080,000. Bank of America Corp DE acquired a new position in Tootsie Roll Industries during the 2nd quarter worth approximately $3,522,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Tootsie Roll Industries in the 2nd quarter valued at approximately $2,669,000. 14.28% of the stock is currently owned by hedge funds and other institutional investors.

Tootsie Roll Industries Company Profile

Tootsie Roll Industries, Inc manufactures and sells confectionery products in the United States and internationally. Its portfolio includes chocolate, candy, gum and other sweets marketed under brands such as Tootsie Roll, Tootsie Pop, Dots, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes and Charms Blow Pop.

The company traces its origins to 1896, when Leo Hirschfield began producing candy in New York City. Tootsie Roll, one of its best-known products, was introduced in the late 19th century and named after Hirschfield’s daughter, Clara, whose nickname was “Tootsie.” The company later expanded through brand development and acquisitions, building a broad portfolio of widely recognized confectionery products.

Tootsie Roll Industries is headquartered in Chicago, Illinois.