Turning Point Brands (NYSE:TPB) Reaches New 12-Month High at $42.82

Turning Point Brands, Inc. (NYSE:TPB)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $42.82 and last traded at $42.49, with a volume of 16649 shares traded. The stock had previously closed at $41.84.

Analyst Ratings Changes

Several analysts have recently issued reports on TPB shares. Roth Mkm began coverage on Turning Point Brands in a research note on Thursday, September 19th. They set a “buy” rating and a $50.00 price target for the company. StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Benchmark restated a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a report on Friday, August 2nd. Finally, Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th.

Turning Point Brands Trading Up 1.6 %

The firm has a market cap of $753.03 million, a P/E ratio of 18.43 and a beta of 0.62. The company’s 50 day moving average is $38.73 and its two-hundred day moving average is $33.76. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The company had revenue of $108.51 million during the quarter. On average, sell-side analysts predict that Turning Point Brands, Inc. will post 2.68 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.66%. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Insider Activity

In other news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the sale, the director now directly owns 46,544 shares in the company, valued at approximately $1,834,764.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Turning Point Brands

Institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in shares of Turning Point Brands during the first quarter valued at $1,587,000. Harspring Capital Management LLC bought a new position in Turning Point Brands during the 4th quarter valued at about $2,101,000. Lord Abbett & CO. LLC boosted its position in Turning Point Brands by 45.2% in the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock valued at $7,481,000 after buying an additional 79,489 shares in the last quarter. Boston Partners bought a new stake in Turning Point Brands during the first quarter worth about $964,000. Finally, Tidal Investments LLC acquired a new stake in shares of Turning Point Brands during the first quarter worth approximately $1,661,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

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.