Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) was up 3.5% during mid-day trading on Tuesday . The stock traded as high as $44.48 and last traded at $44.45. Approximately 15,336 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 114,197 shares. The stock had previously closed at $42.95.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on TPB shares. Roth Mkm initiated coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a "buy" rating and a $50.00 price target for the company. Roth Capital raised shares of Turning Point Brands to a "strong-buy" rating in a research note on Thursday, September 19th. Benchmark reaffirmed a "buy" rating and issued a $45.00 price objective on shares of Turning Point Brands in a research note on Friday, August 2nd. Finally, StockNews.com raised shares of Turning Point Brands from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 16th.
Get Our Latest Analysis on TPB
Turning Point Brands Price Performance
The business's 50 day simple moving average is $40.59 and its two-hundred day simple moving average is $35.55. The stock has a market capitalization of $797.30 million, a P/E ratio of 18.48 and a beta of 0.63. 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 earnings results on Thursday, August 1st. The company reported $0.82 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%. As a group, sell-side analysts forecast that Turning Point Brands, Inc. will post 2.68 earnings per share for the current fiscal year.
Turning Point Brands Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were issued a $0.07 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.28 annualized dividend and a dividend yield of 0.62%. Turning Point Brands's dividend payout ratio is currently 11.57%.
Insider Activity
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 shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the sale, the director now owns 46,544 shares in the company, valued at approximately $1,834,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.20% of the stock is currently owned by corporate insiders.
Institutional Trading of Turning Point Brands
A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its position in Turning Point Brands by 0.3% during the second quarter. Marshall Wace LLP now owns 119,954 shares of the company's stock worth $3,849,000 after purchasing an additional 367 shares during the period. Principal Financial Group Inc. boosted its position in Turning Point Brands by 8.9% during the second quarter. Principal Financial Group Inc. now owns 8,456 shares of the company's stock worth $271,000 after purchasing an additional 693 shares during the period. Access Investment Management LLC boosted its position in Turning Point Brands by 0.6% during the second quarter. Access Investment Management LLC now owns 121,385 shares of the company's stock worth $3,895,000 after purchasing an additional 745 shares during the period. Price T Rowe Associates Inc. MD boosted its position 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 purchasing an additional 800 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in 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 during the period. Hedge funds and other institutional investors 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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