Tootsie Roll Industries (NYSE:TR) Stock Price Down 4.8% – Time to Sell?

Tootsie Roll Industries, Inc. (NYSE:TR)’s stock price was down 4.8% during trading on Tuesday . The company traded as low as $37.74 and last traded at $38.15. Approximately 19,579 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 126,568 shares. The stock had previously closed at $40.06.

Tootsie Roll Industries Trading Down 6.8%

The firm has a market cap of $2.81 billion, a P/E ratio of 27.91 and a beta of 0.45. The stock has a 50 day simple moving average of $42.12 and a 200-day simple moving average of $39.97.

Tootsie Roll Industries (NYSE:TR) last posted its earnings results on Friday, May 8th. The company reported $0.24 earnings per share for the quarter. Tootsie Roll Industries had a net margin of 13.70% and a return on equity of 10.77%. The firm had revenue of $151.54 million during the quarter.

Institutional Trading of Tootsie Roll Industries

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its position in Tootsie Roll Industries by 4.4% in the first quarter. Royal Bank of Canada now owns 67,993 shares of the company’s stock worth $2,140,000 after acquiring an additional 2,893 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Tootsie Roll Industries by 56.6% in the 1st quarter. AQR Capital Management LLC now owns 17,428 shares of the company’s stock worth $549,000 after purchasing an additional 6,299 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Tootsie Roll Industries by 29.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 215,015 shares of the company’s stock valued at $6,769,000 after purchasing an additional 48,484 shares during the last quarter. Rhumbline Advisers increased its position in shares of Tootsie Roll Industries by 95.8% during the 2nd quarter. Rhumbline Advisers now owns 44,865 shares of the company’s stock valued at $1,501,000 after purchasing an additional 21,947 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Tootsie Roll Industries by 25.4% in the second quarter. American Century Companies Inc. now owns 34,030 shares of the company’s stock worth $1,138,000 after buying an additional 6,889 shares during 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.