Tootsie Roll Industries (NYSE:TR) Stock Crosses Above 50-Day Moving Average – Time to Sell?

Tootsie Roll Industries, Inc. (NYSE:TR – Get Free Report) shares crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $38.03 and traded as high as $38.29. Tootsie Roll Industries shares last traded at $38.21, with a volume of 166,151 shares traded.

Analyst Ratings Changes

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

Read Our Latest Stock Report on TR

Tootsie Roll Industries Stock Performance

The stock has a market cap of $2.87 billion, a PE ratio of 29.76 and a beta of 0.41. The company’s 50-day moving average price is $38.03 and its 200 day moving average price is $39.67.

Tootsie Roll Industries (NYSE:TR – Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.18 earnings per share for the quarter. The company 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, October 7th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, October 7th. Tootsie Roll Industries’s dividend payout ratio is 28.12%.

Hedge Funds Weigh In On Tootsie Roll Industries

A number of hedge funds have recently modified their holdings of TR. Strs Ohio increased its position in shares of Tootsie Roll Industries by 3.0% during the first quarter. Strs Ohio now owns 8,961 shares of the company’s stock valued at $383,000 after acquiring an additional 261 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Tootsie Roll Industries by 48.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 958 shares of the company’s stock valued at $41,000 after acquiring an additional 311 shares during the period. Brown Lisle Cummings Inc. lifted its holdings in shares of Tootsie Roll Industries by 1.2% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 28,095 shares of the company’s stock worth $1,056,000 after acquiring an additional 320 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Tootsie Roll Industries by 8.1% in 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 last quarter. Finally, California State Teachers Retirement System lifted its holdings 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 during the last quarter. 14.28% of the stock is currently owned by hedge funds and other institutional investors.

About Tootsie Roll Industries

(Get Free Report)

Tootsie Roll Industries, Inc manufactures and sells confectionery products in the United States and internationally. Its portfolio includes chocolate, candy, gum and other sweets marketed under brands such as Tootsie Roll, Tootsie Pop, Dots, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes and Charms Blow Pop.

The company traces its origins to 1896, when Leo Hirschfield began producing candy in New York City. Tootsie Roll, one of its best-known products, was introduced in the late 19th century and named after Hirschfield’s daughter, Clara, whose nickname was “Tootsie.” The company later expanded through brand development and acquisitions, building a broad portfolio of widely recognized confectionery products.

Tootsie Roll Industries is headquartered in Chicago, Illinois.

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