Short Interest in Turning Point Brands, Inc. (NYSE:TPB) Expands By 87.1%

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 727,400 shares, an increase of 87.1% from the January 31st total of 388,800 shares. Approximately 4.4% of the company's shares are short sold. Based on an average trading volume of 205,700 shares, the short-interest ratio is currently 3.5 days.

Turning Point Brands Stock Up 0.0 %

Shares of TPB stock traded up $0.03 during midday trading on Wednesday, reaching $67.02. 313,738 shares of the stock were exchanged, compared to its average volume of 141,887. Turning Point Brands has a 1 year low of $26.14 and a 1 year high of $72.54. The company's 50 day moving average is $62.82 and its two-hundred day moving average is $53.72. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The firm has a market cap of $1.19 billion, a PE ratio of 26.59 and a beta of 0.74.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.075 per share. This is an increase from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.45%. Turning Point Brands's dividend payout ratio is 11.90%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Turning Point Brands during the 4th quarter worth approximately $2,240,000. Sunbelt Securities Inc. purchased a new stake in shares of Turning Point Brands in the 4th quarter worth approximately $96,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Turning Point Brands by 115.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,068 shares of the company's stock worth $1,386,000 after buying an additional 12,364 shares during the last quarter. Virtus Fund Advisers LLC purchased a new stake in shares of Turning Point Brands in the 4th quarter worth approximately $48,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Turning Point Brands in the 4th quarter worth approximately $529,000. Hedge funds and other institutional investors own 96.12% of the company's stock.

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Wall Street Analyst Weigh In

TPB has been the subject of a number of recent research reports. StockNews.com raised Turning Point Brands from a "hold" rating to a "buy" rating in a research note on Monday. Alliance Global Partners started coverage on Turning Point Brands in a report on Monday. They set a "buy" rating and a $80.00 price target on the stock. Roth Capital upgraded Turning Point Brands to a "strong-buy" rating in a report on Friday, November 8th. Roth Mkm restated a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Oppenheimer started coverage on Turning Point Brands in a report on Thursday, November 14th. They set an "outperform" rating and a $65.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Turning Point Brands presently has a consensus rating of "Buy" and a consensus target price of $71.00.

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.