Turning Point Brands (NYSE:TPB) Sets New 1-Year High at $34.85

Turning Point Brands, Inc. (NYSE:TPB) reached a new 52-week high during trading on Tuesday . The stock traded as high as $34.85 and last traded at $34.75, with a volume of 53135 shares. The stock had previously closed at $34.00.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TPB. StockNews.com upgraded shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, May 17th. Benchmark reaffirmed a “buy” rating and set a $45.00 price objective on shares of Turning Point Brands in a research report on Wednesday, June 5th.

Turning Point Brands Price Performance

The stock’s 50-day moving average is $32.57 and its 200 day moving average is $28.34. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.59 and a current ratio of 2.55. The stock has a market capitalization of $610.18 million, a PE ratio of 15.23 and a beta of 0.62.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.72 earnings per share (EPS) for the quarter. The company had revenue of $97.06 million for the quarter. Turning Point Brands had a return on equity of 37.62% and a net margin of 10.68%.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.81%. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.33%.

Insider Buying and Selling

In other Turning Point Brands news, Director Lawrence Wexler sold 4,695 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $31.57, for a total transaction of $148,221.15. Following the completion of the sale, the director now directly owns 367,701 shares of the company’s stock, valued at approximately $11,608,320.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Turning Point Brands news, Director Lawrence Wexler sold 4,695 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $31.57, for a total transaction of $148,221.15. Following the completion of the transaction, the director now owns 367,701 shares in the company, valued at approximately $11,608,320.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Plano Lorenzo De bought 4,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average cost of $31.80 per share, with a total value of $127,200.00. Following the completion of the purchase, the insider now owns 34,896 shares in the company, valued at approximately $1,109,692.80. The disclosure for this purchase can be found here. 5.80% of the stock is owned by company insiders.

Institutional Trading of Turning Point Brands

Several hedge funds and other institutional investors have recently made changes to their positions in TPB. AJOVista LLC acquired a new stake in shares of Turning Point Brands during the 4th quarter valued at approximately $47,000. Lazard Asset Management LLC purchased a new position in Turning Point Brands in the 1st quarter valued at approximately $48,000. Allspring Global Investments Holdings LLC acquired a new position in Turning Point Brands during the first quarter worth $64,000. Quest Partners LLC purchased a new position in Turning Point Brands in the fourth quarter valued at approximately $65,000. Finally, Tower Research Capital LLC TRC lifted its position in Turning Point Brands by 571.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,017 shares of the company’s stock valued at $106,000 after buying an additional 3,419 shares in the last quarter. 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.