Turning Point Brands, Inc. (NYSE:TPB - Get Free Report)'s share price hit a new 52-week high 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.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Roth Capital upgraded shares of Turning Point Brands to a "strong-buy" rating in a research note on Thursday, September 19th. StockNews.com lowered Turning Point Brands from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Roth Mkm assumed coverage on Turning Point Brands in a research note on Thursday, September 19th. They set a "buy" rating and a $50.00 target price for the company. Finally, Benchmark reaffirmed a "buy" rating and issued a $45.00 price target on shares of Turning Point Brands in a research report on Friday, August 2nd.
Get Our Latest Analysis on TPB
Turning Point Brands Price Performance
The firm has a market cap of $816.43 million, a price-to-earnings ratio of 20.41 and a beta of 0.63. The stock's 50-day moving average price is $40.87 and its 200 day moving average price is $35.73. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43.
Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The company had revenue of $108.51 million during the quarter. Equities research analysts predict that Turning Point Brands, Inc. will post 2.68 earnings per share for the current year.
Turning Point Brands Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.60%. The ex-dividend date was Friday, September 13th. 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 firm's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the transaction, the director now owns 46,544 shares in the company, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Turning Point Brands
A number of hedge funds have recently made changes to their positions in TPB. Marshall Wace LLP raised its stake in shares of Turning Point Brands by 0.3% in the second quarter. Marshall Wace LLP now owns 119,954 shares of the company's stock valued at $3,849,000 after acquiring an additional 367 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Turning Point Brands by 8.9% in the second quarter. Principal Financial Group Inc. now owns 8,456 shares of the company's stock valued at $271,000 after buying an additional 693 shares during the last quarter. Access Investment Management LLC grew its holdings in Turning Point Brands by 0.6% during the 2nd quarter. Access Investment Management LLC now owns 121,385 shares of the company's stock worth $3,895,000 after acquiring an additional 745 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Turning Point Brands by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company's stock worth $371,000 after acquiring an additional 800 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Turning Point Brands by 6.8% during the first quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company's stock worth $532,000 after purchasing an additional 1,159 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company's stock.
About Turning Point Brands
(
Get Free Report)
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.
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