Tootsie Roll Industries (NYSE:TR) Shares Cross Below 200-Day Moving Average - Should You Sell?

Key Points

• Tootsie Roll Industries shares fell below their 200-day moving average on Monday, trading as low as $37.92 versus a 200-day average of $39.96. The stock was last around $38.03, down 0.3% on the session.
• Analyst sentiment remains cautious, with Weiss Ratings reiterating a “hold (C+)” rating and MarketBeat showing a consensus rating of “Hold.”
• The company continues to show stable fundamentals and shareholder returns, reporting $0.24 EPS on $151.54 million in quarterly revenue and paying a quarterly dividend of $0.09, equal to a 0.9% annual yield.

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $39.96 and traded as low as $37.92. Tootsie Roll Industries shares last traded at $38.0310, with a volume of 169,748 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of Tootsie Roll Industries in a research report on Monday, June 15th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold".

Tootsie Roll Industries Stock Down 0.3%

The company has a market cap of $2.86 billion, a price-to-earnings ratio of 28.44 and a beta of 0.39. The firm has a 50 day moving average price of $39.03 and a two-hundred day moving average price of $39.96.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.24 EPS for the quarter. The company had revenue of $151.54 million for the quarter. Tootsie Roll Industries had a return on equity of 10.77% and a net margin of 13.70%.

Tootsie Roll Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were given a $0.09 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Tootsie Roll Industries's payout ratio is 26.87%.

Institutional Investors Weigh In On Tootsie Roll Industries

Several large investors have recently modified their holdings of TR. Strs Ohio lifted its holdings in 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 during the period. EverSource Wealth Advisors LLC grew its holdings in Tootsie Roll Industries by 48.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 958 shares of the company's stock worth $41,000 after acquiring an additional 311 shares during the period. GAMMA Investing LLC grew its holdings in Tootsie Roll Industries by 8.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,549 shares of the company's stock worth $180,000 after acquiring an additional 339 shares during the period. Parallel Advisors LLC raised its position in shares of Tootsie Roll Industries by 9.7% in the 3rd quarter. Parallel Advisors LLC now owns 4,115 shares of the company's stock worth $173,000 after acquiring an additional 364 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Tootsie Roll Industries by 2.2% in the 1st quarter. California State Teachers Retirement System now owns 17,485 shares of the company's stock worth $747,000 after acquiring an additional 375 shares in the last quarter. 14.28% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.