Tootsie Roll Industries (NYSE:TR) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Tootsie Roll Industries, Inc. (NYSE:TR) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $39.89 and traded as low as $38.46. Tootsie Roll Industries shares last traded at $39.0210, with a volume of 193,855 shares traded.

Tootsie Roll Industries Stock Performance

The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 29.18 and a beta of 0.41. The firm has a 50-day moving average price of $41.03 and a two-hundred day moving average price of $39.89.

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

Tootsie Roll Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, June 18th. Tootsie Roll Industries’s dividend payout ratio (DPR) is 26.87%.

Institutional Investors Weigh In On Tootsie Roll Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in Tootsie Roll Industries by 48.1% during the first quarter. EverSource Wealth Advisors LLC now owns 958 shares of the company’s stock worth $41,000 after buying an additional 311 shares during the period. Sound Income Strategies LLC increased its position in Tootsie Roll Industries by 1,931.9% during the first quarter. Sound Income Strategies LLC now owns 1,402 shares of the company’s stock worth $60,000 after buying an additional 1,333 shares during the period. State of Wyoming acquired a new position in Tootsie Roll Industries during the fourth quarter worth approximately $58,000. iSAM Funds UK Ltd acquired a new position in Tootsie Roll Industries during the third quarter worth approximately $136,000. Finally, Russell Investments Group Ltd. increased its position in Tootsie Roll Industries by 29,407.7% during the third quarter. Russell Investments Group Ltd. now owns 3,836 shares of the company’s stock worth $161,000 after buying an additional 3,823 shares during the period. Institutional investors and hedge funds own 14.28% of the company’s stock.

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.