Tootsie Roll Industries (NYSE:TR) Stock Price Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• Price action: Tootsie Roll's share price passed above its 50‑day moving average of $42.08, trading as high as $42.99 and last at $42.4260 on volume of 93,478 shares.
• Recent results and valuation: The company reported quarterly EPS of $0.39 on $196.28 million in revenue, has a market cap of $3.19 billion and a P/E of 31.67 with a 200‑day moving average of $39.81.
• Dividends and analyst stance: Tootsie Roll pays a $0.09 quarterly dividend (annualized $0.36, yield 0.8%, payout ratio 26.87%), while Weiss Ratings reiterated a "Hold (C+)" and the stock's consensus rating is "Hold."

Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report)'s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $42.08 and traded as high as $42.99. Tootsie Roll Industries shares last traded at $42.4260, with a volume of 93,478 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Tootsie Roll Industries in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold".

Tootsie Roll Industries Stock Down 1.6%

The stock has a market capitalization of $3.19 billion, a PE ratio of 31.67 and a beta of 0.48. The stock has a fifty day moving average of $42.08 and a 200-day moving average of $39.81.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The company reported $0.39 earnings per share for the quarter. The company had revenue of $196.28 million for the quarter. Tootsie Roll Industries had a return on equity of 11.02% and a net margin of 13.81%.

Tootsie Roll Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 5th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, March 5th. Tootsie Roll Industries's dividend payout ratio is presently 26.87%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TR. Parallel Advisors LLC lifted its position in shares of Tootsie Roll Industries by 9.7% during the 3rd quarter. Parallel Advisors LLC now owns 4,115 shares of the company's stock worth $173,000 after buying an additional 364 shares during the last quarter. Corient Private Wealth LLC raised its stake in Tootsie Roll Industries by 5.5% during the 4th quarter. Corient Private Wealth LLC now owns 7,196 shares of the company's stock worth $264,000 after acquiring an additional 377 shares in the last quarter. CWM LLC lifted its position in Tootsie Roll Industries by 42.0% in the third quarter. CWM LLC now owns 1,394 shares of the company's stock valued at $58,000 after acquiring an additional 412 shares during the last quarter. AQR Capital Management LLC boosted its stake in Tootsie Roll Industries by 1.6% in the fourth quarter. AQR Capital Management LLC now owns 26,626 shares of the company's stock valued at $975,000 after acquiring an additional 415 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Tootsie Roll Industries by 6.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,513 shares of the company's stock worth $275,000 after purchasing an additional 449 shares during the last quarter. Hedge funds and other institutional investors 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.

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