Turning Point Brands (NYSE:TPB) Hits New 52-Week High at $38.39

Turning Point Brands, Inc. (NYSE:TPB) hit a new 52-week high on Friday . The company traded as high as $38.39 and last traded at $38.35, with a volume of 957 shares changing hands. The stock had previously closed at $37.90.

Analyst Ratings Changes

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 reiterated a “buy” rating and issued a $45.00 price objective on shares of Turning Point Brands in a research note on Wednesday, June 5th.

Turning Point Brands Stock Performance

The company has a market cap of $682.25 million, a P/E ratio of 16.69 and a beta of 0.62. The business has a 50-day moving average of $33.53 and a two-hundred day moving average of $29.27. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.55 and a quick ratio of 1.59.

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. Turning Point Brands had a net margin of 10.68% and a return on equity of 37.62%. The firm had revenue of $97.06 million for the quarter.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.72%. Turning Point Brands’s dividend payout ratio is presently 12.33%.

Insider Transactions at Turning Point Brands

In other news, Director Lawrence Wexler sold 4,695 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $31.57, for a total transaction of $148,221.15. Following the transaction, the director now owns 367,701 shares in the company, valued at $11,608,320.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Turning Point Brands news, insider Plano Lorenzo De purchased 4,000 shares of Turning Point Brands stock in a transaction on Monday, June 17th. The stock was bought at an average cost of $31.80 per share, with a total value of $127,200.00. Following the transaction, the insider now owns 34,896 shares of the company’s stock, valued at approximately $1,109,692.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence Wexler sold 4,695 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 367,701 shares of the company’s stock, valued at approximately $11,608,320.57. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its position in Turning Point Brands by 162.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 521,980 shares of the company’s stock valued at $13,739,000 after purchasing an additional 323,157 shares in the last quarter. Access Investment Management LLC purchased a new position in Turning Point Brands during the 4th quarter valued at about $3,383,000. Vanguard Group Inc. raised its position in shares of Turning Point Brands by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after purchasing an additional 92,147 shares during the last quarter. Harspring Capital Management LLC purchased a new position in Turning Point Brands during the fourth quarter worth $2,101,000. Finally, Lord Abbett & CO. LLC increased its position in Turning Point Brands by 45.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after purchasing an additional 79,489 shares in the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

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.