Turning Point Brands (NYSE:TPB) Sets New 12-Month High – Here’s Why

Turning Point Brands, Inc. (NYSE:TPB) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $81.16 and last traded at $74.73, with a volume of 541424 shares traded. The stock had previously closed at $76.15.

Analyst Ratings Changes

TPB has been the topic of a number of recent analyst reports. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a report on Thursday, March 6th. Wall Street Zen upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Alliance Global Partners began coverage on Turning Point Brands in a report on Monday, March 3rd. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Oppenheimer increased their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $76.67.

Turning Point Brands Trading Down 1.9%

The business’s 50-day moving average price is $65.54 and its two-hundred day moving average price is $62.99. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 29.65 and a beta of 0.76. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.16. The firm had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. Equities analysts expect that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands’s dividend payout ratio (DPR) is 13.16%.

Insider Buying and Selling

In related news, Director Lawrence Wexler sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $74.61, for a total value of $1,119,150.00. Following the sale, the director now directly owns 355,186 shares in the company, valued at $26,500,427.46. This trade represents a 4.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $75.75, for a total value of $265,125.00. Following the sale, the chief accounting officer now directly owns 10,171 shares in the company, valued at $770,453.25. The trade was a 25.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,600 shares of company stock valued at $1,539,885 in the last quarter. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

A number of large investors have recently added to or reduced their stakes in TPB. Virtus Fund Advisers LLC acquired a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $48,000. Sunbelt Securities Inc. acquired a new stake in Turning Point Brands during the fourth quarter worth $96,000. Tower Research Capital LLC TRC increased its holdings in Turning Point Brands by 29.0% in the 4th 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. Baird Financial Group Inc. bought a new stake in Turning Point Brands in the 4th quarter valued at $201,000. Finally, Prescott General Partners LLC bought a new stake in Turning Point Brands in the 4th quarter valued at $210,000. Institutional investors own 96.12% of the company’s stock.

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.