Turning Point Brands (NYSE:TPB) Downgraded by StockNews.com

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

Several other equities analysts have also commented on the company. Roth Capital upgraded Turning Point Brands to a strong-buy rating in a research report on Thursday. Roth Mkm assumed coverage on shares of Turning Point Brands in a research report on Thursday. They set a buy rating and a $50.00 price target on the stock. Finally, Benchmark reissued 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 Up 0.5 %

Shares of Turning Point Brands stock opened at $41.93 on Friday. The company has a 50 day simple moving average of $38.43 and a two-hundred day simple moving average of $33.49. The firm has a market cap of $738.89 million, a PE ratio of 18.47 and a beta of 0.62. Turning Point Brands has a 1 year low of $19.67 and a 1 year high of $42.32. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. The company had revenue of $108.51 million during the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.28 annualized dividend and a yield of 0.67%. Turning Point Brands’s payout ratio is 12.33%.

Insider Buying and Selling

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction dated 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 directly owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently bought and sold shares of TPB. Aristides Capital LLC lifted its position in shares of Turning Point Brands by 6.3% in the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock worth $6,514,000 after purchasing an additional 12,041 shares during the period. Algert Global LLC boosted its position in shares of Turning Point Brands by 3.9% during the second quarter. Algert Global LLC now owns 115,970 shares of the company’s stock valued at $3,721,000 after purchasing an additional 4,388 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Turning Point Brands in the second quarter worth $209,000. Millennium Management LLC raised its holdings in Turning Point Brands by 14.1% in the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock worth $5,724,000 after purchasing an additional 22,035 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Turning Point Brands by 32.5% during the second quarter. AQR Capital Management LLC now owns 40,867 shares of the company’s stock valued at $1,311,000 after buying an additional 10,033 shares during the period. Hedge funds and other institutional investors 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.