Tootsie Roll Industries (NYSE:TR) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Tootsie Roll Industries shares crossed above their 200-day moving average of $40.32, reaching $40.93 before trading near $40.11 on volume of 268,972 shares.
• The company reported quarterly revenue of $154.22 million and earnings of $0.18 per share, with a 13.14% net margin and 10.20% return on equity.
• Analysts maintain a consensus “Hold” rating, while the company continues paying a quarterly dividend of $0.09 per share, equivalent to a 0.9% yield.

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $40.32 and traded as high as $40.93. Tootsie Roll Industries shares last traded at $40.11, with a volume of 268,972 shares.

Wall Street Analysts Forecast Growth

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

Tootsie Roll Industries Stock Down 1.0%

The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 31.24 and a beta of 0.39. The company's fifty day moving average is $38.74 and its two-hundred day moving average is $40.32.

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 10.20% and a net margin of 13.14%.The business had revenue of $154.22 million during the quarter.

Tootsie Roll Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 18th. Tootsie Roll Industries's dividend payout ratio is presently 28.12%.

Institutional Investors Weigh In On Tootsie Roll Industries

Several large investors have recently made changes to their positions in the stock. Algert Global LLC bought a new position in Tootsie Roll Industries during the 2nd quarter worth about $272,000. Sanctuary Advisors LLC acquired a new stake in Tootsie Roll Industries in the 2nd quarter valued at approximately $240,000. Quantbot Technologies LP acquired a new position in Tootsie Roll Industries during the second quarter worth $373,000. Landscape Capital Management L.L.C. bought a new position in Tootsie Roll Industries in the second quarter valued at $2,453,000. Finally, EP Wealth Advisors LLC acquired a new stake in Tootsie Roll Industries in the 2nd quarter valued at $288,000. Institutional investors own 14.28% of the company's stock.

About Tootsie Roll Industries

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.

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