Turning Point Brands (NYSE:TPB) Hits New 12-Month High - What's Next?

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $52.76 and last traded at $52.46, with a volume of 34319 shares changing hands. The stock had previously closed at $51.69.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TPB shares. Roth Mkm started coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a "buy" rating and a $50.00 target price on the stock. 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 downgraded shares of Turning Point Brands from a "strong-buy" rating to a "buy" rating in a report on Thursday, October 24th.

Turning Point Brands Price Performance

The business's fifty day moving average is $42.95 and its 200-day moving average is $37.54. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. The firm has a market cap of $930.31 million, a PE ratio of 20.75 and a beta of 0.63.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 34.39%. The company had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. During the same period last year, the business earned $0.69 earnings per share. Turning Point Brands's revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that Turning Point Brands, Inc. will post 2.68 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.53%. Turning Point Brands's payout ratio is presently 11.11%.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction that occurred on 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 of the company's stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC bought a new position in Turning Point Brands in the 3rd quarter worth about $61,000. Lazard Asset Management LLC bought a new position in Turning Point Brands in the 1st quarter worth about $48,000. Allspring Global Investments Holdings LLC bought a new position in Turning Point Brands in the 1st quarter worth about $64,000. SG Americas Securities LLC bought a new position in Turning Point Brands in the 2nd quarter worth about $129,000. Finally, Aigen Investment Management LP purchased a new position in Turning Point Brands in the 3rd quarter worth about $221,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

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.