Turning Point Brands (NYSE:TPB) Reaches New 52-Week High – Still a Buy?

Turning Point Brands, Inc. (NYSE:TPB) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $46.29 and last traded at $46.22, with a volume of 13842 shares. The stock had previously closed at $44.61.

Wall Street Analyst Weigh In

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

Turning Point Brands Stock Performance

The stock has a market capitalization of $805.15 million, a price-to-earnings ratio of 20.13 and a beta of 0.63. 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 50 day simple moving average of $41.15 and a 200-day simple moving average of $35.93.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. The company had revenue of $108.51 million for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. As a group, equities research analysts expect that Turning Point Brands, Inc. 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. Stockholders of record on Friday, September 13th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.61%. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.33%.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC bought a new stake in shares of Turning Point Brands during the first quarter worth about $48,000. Copeland Capital Management LLC bought a new stake in Turning Point Brands during the 3rd quarter worth approximately $61,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Turning Point Brands in the first quarter worth approximately $64,000. SG Americas Securities LLC bought a new position in shares of Turning Point Brands in the second quarter valued at approximately $129,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Turning Point Brands during the second quarter valued at approximately $209,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

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.