Turning Point Brands (NYSE:TPB) Hits New 12-Month High – Here’s Why

Turning Point Brands, Inc. (NYSE:TPB)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $43.34 and last traded at $43.24, with a volume of 6932 shares changing hands. The stock had previously closed at $42.57.

Analysts Set New Price Targets

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

Turning Point Brands Trading Down 0.8 %

The stock has a market capitalization of $761.27 million, a P/E ratio of 19.03 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 stock’s 50 day moving average price is $40.35 and its 200-day moving average price is $35.25.

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

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were issued a $0.07 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.65%. Turning Point Brands’s dividend payout ratio is presently 12.33%.

Insider Buying and Selling at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 of the company’s stock, valued at $1,834,764.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.20% of the company’s stock.

Institutional Trading of Turning Point Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. increased its position in Turning Point Brands by 245.9% during the 2nd quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock valued at $4,965,000 after buying an additional 109,983 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Turning Point Brands by 6.6% during the first quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after acquiring an additional 92,147 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Turning Point Brands by 45.2% during the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock valued at $7,481,000 after acquiring an additional 79,489 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Turning Point Brands in the 1st quarter valued at approximately $1,661,000. Finally, GSA Capital Partners LLP acquired a new stake in Turning Point Brands in the 1st quarter worth approximately $1,587,000. Hedge funds and other institutional investors 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.