Tootsie Roll Industries (NYSE:TR) Shares Break Below Two Hundred Day Moving Average – What’s Next?

Shares of Tootsie Roll Industries, Inc. (NYSE:TR) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $40.08 and traded as low as $37.40. Tootsie Roll Industries shares last traded at $37.9570, with a volume of 462,005 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Tootsie Roll Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Tootsie Roll Industries Trading Up 0.5%

The firm has a 50-day simple moving average of $39.36 and a 200-day simple moving average of $40.08. The firm has a market cap of $2.85 billion, a P/E ratio of 29.56 and a beta of 0.41.

Tootsie Roll Industries (NYSE:TR) last released its quarterly earnings results on Friday, August 7th. The company reported $0.18 EPS for the quarter. The firm had revenue of $154.22 million during 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 announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, October 7th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, October 7th. Tootsie Roll Industries’s payout ratio is 28.12%.

Institutional Trading of Tootsie Roll Industries

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Tootsie Roll Industries in the 2nd quarter worth approximately $84,370,000. Dimensional Fund Advisors LP boosted its stake in Tootsie Roll Industries by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,152,714 shares of the company’s stock valued at $49,245,000 after acquiring an additional 26,653 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Tootsie Roll Industries by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 187,621 shares of the company’s stock valued at $8,015,000 after acquiring an additional 1,039 shares in the last quarter. Bank of America Corp DE grew its holdings in Tootsie Roll Industries by 1.4% in the first quarter. Bank of America Corp DE now owns 143,622 shares of the company’s stock worth $6,136,000 after purchasing an additional 1,924 shares during the last quarter. Finally, Gabelli Funds LLC grew its holdings in Tootsie Roll Industries by 3.0% in the first quarter. Gabelli Funds LLC now owns 99,395 shares of the company’s stock worth $4,246,000 after purchasing an additional 2,895 shares during the last quarter. 14.28% of the stock is owned by hedge funds and other institutional investors.

About Tootsie Roll Industries

Tootsie Roll Industries, Inc is a confectionery company that manufactures and sells candy products in the United States and internationally. Founded in 1896 by Leo Hirschfield, the company is headquartered in Chicago, Illinois, and has built a portfolio of widely recognized brands sold through retail, grocery, convenience, and other distribution channels.

Its products include Tootsie Rolls and Tootsie Pops, along with Dubble Bubble, Charms, Junior Mints, DOTS, Sugar Babies, Sugar Daddy, Charleston Chew, Andes, and Cella’s.