Turning Point Brands (NYSE:TPB) Reaches New 12-Month High at $40.76

Turning Point Brands, Inc. (NYSE:TPB)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $40.76 and last traded at $40.30, with a volume of 23197 shares trading hands. The stock had previously closed at $39.03.

Analysts Set New Price Targets

Several research firms have commented on TPB. Roth Mkm began coverage on shares of Turning Point Brands in a research note on Thursday. They issued a “buy” rating and a $50.00 price objective for the company. Benchmark reiterated a “buy” rating and issued a $45.00 price objective on shares of Turning Point Brands in a research note on Friday, August 2nd.

Turning Point Brands Stock Performance

The company’s 50 day moving average price is $38.21 and its 200-day moving average price is $33.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. The company has a market cap of $708.05 million, a PE ratio of 17.19 and a beta of 0.62.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The company had revenue of $108.51 million during the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, September 13th. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.33%.

Insider Buying and Selling

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the transaction, the director now owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Turning Point Brands

Several institutional investors and hedge funds have recently bought and sold shares of the company. Aristides Capital LLC increased its holdings in shares of Turning Point Brands by 6.3% in the second quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock worth $6,514,000 after purchasing an additional 12,041 shares during the period. Algert Global LLC grew its position in Turning Point Brands by 3.9% during the second quarter. Algert Global LLC now owns 115,970 shares of the company’s stock worth $3,721,000 after buying an additional 4,388 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Turning Point Brands in the 2nd quarter worth about $209,000. Millennium Management LLC raised its holdings in shares of Turning Point Brands by 14.1% in the 2nd quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after acquiring an additional 22,035 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Turning Point Brands by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 40,867 shares of the company’s stock valued at $1,311,000 after acquiring an additional 10,033 shares during the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.