Short Interest in Turning Point Brands, Inc. (NYSE:TPB) Declines By 20.4%

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 112,800 shares, a decrease of 20.4% from the September 30th total of 141,700 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 121,600 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

A number of research firms have commented on TPB. Benchmark reaffirmed a "buy" rating and set a $45.00 price objective on shares of Turning Point Brands in a research report on Friday, August 2nd. Roth Mkm began coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a "buy" rating and a $50.00 target price for the company. StockNews.com cut shares of Turning Point Brands from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Finally, Roth Capital raised shares of Turning Point Brands to a "strong-buy" rating in a report on Thursday, September 19th.

Insiders Place Their Bets

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the business'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 transaction, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On Turning Point Brands

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace LLP boosted its position in shares of Turning Point Brands by 0.3% during the second quarter. Marshall Wace LLP now owns 119,954 shares of the company's stock valued at $3,849,000 after purchasing an additional 367 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Turning Point Brands by 8.9% in the 2nd quarter. Principal Financial Group Inc. now owns 8,456 shares of the company's stock worth $271,000 after acquiring an additional 693 shares in the last quarter. Access Investment Management LLC lifted its position 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 valued at $3,895,000 after acquiring an additional 745 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Turning Point Brands by 6.8% during 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Turning Point Brands by 6.8% in 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 during the period. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock traded down $0.68 during trading hours on Friday, hitting $45.65. 105,525 shares of the company's stock traded hands, compared to its average volume of 115,026. The stock has a market capitalization of $804.44 million, a price-to-earnings ratio of 20.11 and a beta of 0.63. The company has a fifty day simple moving average of $41.15 and a 200-day simple moving average of $35.99. 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 has a 12-month low of $19.67 and a 12-month high of $47.34.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The company had revenue of $108.51 million for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. Equities research analysts anticipate that Turning Point Brands will post 2.68 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, September 13th. Turning Point Brands's dividend payout ratio is currently 12.33%.

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.