Turning Point Brands, Inc. (NYSE:TPB) Short Interest Update

Turning Point Brands, Inc. (NYSE:TPB) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 180,800 shares, a decline of 15.2% from the August 31st total of 213,200 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 125,100 shares, the days-to-cover ratio is presently 1.4 days.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value 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 SEC, which is available at this hyperlink. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in shares of Turning Point Brands in the 1st quarter valued at $48,000. Allspring Global Investments Holdings LLC bought a new position in Turning Point Brands in the first quarter valued at about $64,000. Quest Partners LLC acquired a new stake in Turning Point Brands in the fourth quarter worth about $65,000. SG Americas Securities LLC bought a new stake in Turning Point Brands during the 2nd quarter worth about $129,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Turning Point Brands during the 2nd quarter valued at about $209,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Price Performance

Turning Point Brands stock traded down $0.22 on Friday, reaching $42.29. The company’s stock had a trading volume of 98,424 shares, compared to its average volume of 116,136. Turning Point Brands has a twelve month low of $19.67 and a twelve month high of $43.00. The company has a market cap of $748.96 million, a price-to-earnings ratio of 18.63 and a beta of 0.62. 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 business’s fifty day moving average price is $38.97 and its 200 day moving average price is $33.92.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The firm had revenue of $108.51 million for the quarter. Equities analysts expect that Turning Point Brands will post 2.68 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, September 13th. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Roth Mkm initiated coverage on Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective on the stock. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Benchmark restated a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a research report on Friday, August 2nd.

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.