Tootsie Roll Industries (NYSE:TR) Stock Price Breaks Below 200-Day Moving Average - Here's What Happened

Key Points

• Tootsie Roll Industries shares fell below their 200-day moving average of $40.08, reaching $37.40 before last trading at approximately $37.96.
• Weiss Ratings upgraded the stock from “hold (C+)” to “buy (B-),” while MarketBeat reports an overall “Buy” rating from analysts.
• The company reported quarterly EPS of $0.18 on revenue of $154.22 million and declared a quarterly dividend of $0.09, equivalent to a 0.9% yield and a 28.12% payout ratio.

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report)'s share price 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.

Analysts Set New Price Targets

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 investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy".

Tootsie Roll Industries Price Performance

The business has a 50-day simple moving average of $39.36 and a two-hundred day simple moving average of $40.08. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 29.56 and a beta of 0.41.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter. The business 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, October 7th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $0.36 annualized dividend and a yield of 0.9%. Tootsie Roll Industries's payout ratio is 28.12%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TR. Strs Ohio raised its position in shares of Tootsie Roll Industries by 3.0% in the first quarter. Strs Ohio now owns 8,961 shares of the company's stock valued at $383,000 after buying an additional 261 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 in the last quarter. GAMMA Investing LLC grew its position in Tootsie Roll Industries by 8.1% during the second quarter. GAMMA Investing LLC now owns 4,549 shares of the company's stock worth $180,000 after buying an additional 339 shares in the last quarter. California State Teachers Retirement System grew its position in Tootsie Roll Industries by 2.2% during the first quarter. California State Teachers Retirement System now owns 17,485 shares of the company's stock worth $747,000 after buying an additional 375 shares in the last quarter. Finally, Reik & CO. LLC increased its stake in Tootsie Roll Industries by 3.0% during the 1st quarter. Reik & CO. LLC now owns 13,246 shares of the company's stock worth $566,000 after acquiring an additional 386 shares during the period. Institutional investors own 14.28% of the company's stock.

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.

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