Turning Point Brands (NYSE:TPB) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of Turning Point Brands (NYSE:TPB) from a strong-buy rating to a buy rating in a report released on Thursday morning.

Other equities research analysts have also issued research reports about the company. Roth Mkm initiated coverage on Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price on the stock. Benchmark restated a “buy” rating and issued a $45.00 price objective on shares of Turning Point Brands in a research report on Friday, August 2nd. Finally, Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th.

Turning Point Brands Stock Performance

TPB opened at $45.65 on Thursday. Turning Point Brands has a 52-week low of $19.67 and a 52-week high of $47.34. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43. The company has a market cap of $804.44 million, a P/E ratio of 20.11 and a beta of 0.63. The firm’s 50-day moving average price is $41.15 and its 200-day moving average price is $35.99.

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

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a $0.07 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.28 annualized dividend and a yield of 0.61%. Turning Point Brands’s dividend payout ratio is presently 12.33%.

Insiders Place Their Bets

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 sale, the director now owns 46,544 shares in the company, valued at approximately $1,834,764.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Marshall Wace LLP raised its stake in shares of Turning Point Brands by 0.3% during the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after buying an additional 367 shares during the period. Principal Financial Group Inc. raised its stake in shares of Turning Point Brands by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock worth $271,000 after buying an additional 693 shares during the period. Access Investment Management LLC raised its stake in shares of Turning Point Brands by 0.6% during the 2nd quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock worth $3,895,000 after buying an additional 745 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Turning Point Brands by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company’s stock worth $371,000 after buying an additional 800 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Turning Point Brands by 6.8% during the 1st quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock worth $532,000 after buying an additional 1,159 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

About Turning Point Brands

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.