Turning Point Brands (NYSE:TPB) Stock Price Up 3.5% – Here’s What Happened

Turning Point Brands, Inc. (NYSE:TPB) shot up 3.5% during mid-day trading on Tuesday . The stock traded as high as $44.48 and last traded at $44.45. 15,336 shares changed hands during trading, a decline of 87% from the average session volume of 114,197 shares. The stock had previously closed at $42.95.

Wall Street Analyst Weigh In

TPB has been the topic of several recent analyst reports. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Thursday, September 19th. Roth Mkm initiated coverage on Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price target for the company. StockNews.com upgraded shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Finally, Benchmark reiterated a “buy” rating and set a $45.00 target price on shares of Turning Point Brands in a report on Friday, August 2nd.

Turning Point Brands Trading Up 4.1 %

The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43. The stock has a market cap of $791.99 million, a price-to-earnings ratio of 17.75 and a beta of 0.63. The company’s fifty day moving average is $40.59 and its two-hundred day moving average is $35.55.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. The business 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%. On average, research analysts predict that Turning Point Brands, Inc. will post 2.68 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Friday, September 13th. Turning Point Brands’s dividend payout ratio (DPR) is 11.57%.

Insider Activity 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 on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the transaction, the director now directly owns 46,544 shares in the company, valued at approximately $1,834,764.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.20% of the stock is owned by corporate insiders.

Institutional Trading of Turning Point Brands

Several hedge funds have recently modified their holdings of TPB. Copeland Capital Management LLC acquired a new position in Turning Point Brands during the third quarter worth $61,000. Allspring Global Investments Holdings LLC raised its stake in shares of Turning Point Brands by 72,406.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,876 shares of the company’s stock worth $469,000 after buying an additional 10,861 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Turning Point Brands by 154.7% in the 3rd quarter. SG Americas Securities LLC now owns 10,261 shares of the company’s stock worth $443,000 after buying an additional 6,233 shares in the last quarter. Aristides Capital LLC grew its stake in Turning Point Brands by 6.3% in the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after acquiring an additional 12,041 shares during the last quarter. Finally, Algert Global LLC increased its holdings in Turning Point Brands by 3.9% during the 2nd quarter. Algert Global LLC now owns 115,970 shares of the company’s stock valued at $3,721,000 after acquiring an additional 4,388 shares in the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

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.