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

Key Points

• Tootsie Roll shares fell below their 200-day moving average of $39.61, trading as low as $37.19 and last changing hands near $37.26.
• Despite the technical weakness, Weiss Ratings upgraded the stock to “buy,” and MarketBeat reported a consensus “Buy” rating from the company’s analyst coverage.
• Tootsie Roll reported quarterly EPS of $0.18 on $154.22 million in revenue and pays a quarterly dividend of $0.09 per share, representing a 1.0% yield.

Shares of Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $39.61 and traded as low as $37.19. Tootsie Roll Industries shares last traded at $37.2640, with a volume of 163,054 shares traded.

Wall Street Analysts Forecast Growth

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

Tootsie Roll Industries Price Performance

The firm has a 50 day moving average of $38.90 and a 200-day moving average of $39.61. The stock has a market capitalization of $2.80 billion, a P/E ratio of 29.02 and a beta of 0.41.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.18 EPS for the quarter. Tootsie Roll Industries had a return on equity of 10.16% and a net margin of 13.14%. The company had revenue of $154.22 million during the quarter.

Tootsie Roll Industries Dividend Announcement

The company 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 was Wednesday, October 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Tootsie Roll Industries's payout ratio is currently 28.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TR. BlackRock Inc. acquired a new stake in Tootsie Roll Industries during the 2nd quarter valued at $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 worth $49,245,000 after purchasing 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 worth $8,015,000 after purchasing an additional 1,039 shares in the last quarter. Bank of America Corp DE boosted its stake 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 in the last quarter. Finally, Gabelli Funds LLC grew its holdings in shares of Tootsie Roll Industries by 3.0% during 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 institutional investors.

About Tootsie Roll Industries

Tootsie Roll Industries, Inc is a confectionery manufacturer and marketer headquartered in Chicago, Illinois. Founded in 1896 by Leo Hirshfield, the company is best known for its Tootsie Roll candy and has built a broad portfolio of branded sweets sold through grocery stores, convenience stores, mass retailers, vending channels and other outlets.

Its products include Tootsie Rolls, Tootsie Pops, Caramel Apple Pops, Dots, Junior Mints, Sugar Babies, Sugar Daddy, Charleston Chew, Andes mints, Dubble Bubble gum, Razzles and Cry Baby gum.

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