Turning Point Brands (NYSE:TPB) Trading 4.6% Higher - What's Next?

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report)'s share price traded up 4.6% during mid-day trading on Thursday . The company traded as high as $67.23 and last traded at $70.12. 55,942 shares were traded during trading, a decline of 61% from the average session volume of 141,638 shares. The stock had previously closed at $67.02.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 price target on the stock. Oppenheimer started coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They set an "outperform" rating and a $65.00 price target on the stock. Roth Mkm restated a "buy" rating and set a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. Benchmark upped their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Finally, Roth Capital upgraded shares of Turning Point Brands to a "strong-buy" rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Turning Point Brands currently has a consensus rating of "Buy" and an average price target of $71.00.

Turning Point Brands Stock Down 0.0 %

The company has a market cap of $1.09 billion, a PE ratio of 24.43 and a beta of 0.74. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm's fifty day simple moving average is $62.90 and its 200-day simple moving average is $54.02.

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Turning Point Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, March 21st. This is an increase from Turning Point Brands's previous quarterly dividend of $0.07. Turning Point Brands's dividend payout ratio is 11.90%.

Institutional Trading of Turning Point Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. lifted its holdings in shares of Turning Point Brands by 0.4% in the fourth quarter. Sei Investments Co. now owns 78,087 shares of the company's stock valued at $4,693,000 after purchasing an additional 283 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of Turning Point Brands by 1.4% during the third quarter. Martingale Asset Management L P now owns 24,686 shares of the company's stock valued at $1,065,000 after buying an additional 329 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Turning Point Brands by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company's stock valued at $585,000 after buying an additional 330 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Turning Point Brands by 7.1% during the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock valued at $436,000 after buying an additional 482 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after buying an additional 532 shares during the period. Hedge funds and other institutional investors own 96.12% of the company's stock.

Turning Point Brands Company Profile

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.