Turning Point Brands (NYSE:TPB) Stock Price Down 7.9% – What’s Next?

Turning Point Brands, Inc. (NYSE:TPB)’s stock price fell 7.9% on Thursday . The stock traded as low as $72.60 and last traded at $72.21. Approximately 277,612 shares traded hands during trading, a decline of 35% from the average daily volume of 427,745 shares. The stock had previously closed at $78.39.

Wall Street Analysts Forecast Growth

TPB has been the subject of several recent research reports. Weiss Ratings lowered shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. BTIG Research initiated coverage on shares of Turning Point Brands in a research report on Tuesday. They issued a “buy” rating and a $103.00 price target on the stock. Compass Point set a $103.00 price target on Turning Point Brands in a report on Tuesday. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.50.

Turning Point Brands Stock Down 8.3%

The firm has a market cap of $1.39 billion, a PE ratio of 24.42 and a beta of 0.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05. The business has a fifty day moving average price of $84.78 and a two-hundred day moving average price of $95.88.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. The firm had revenue of $124.28 million during the quarter, compared to the consensus estimate of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. On average, analysts anticipate that Turning Point Brands, Inc. will post 1.39 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 19th were given a $0.08 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands’s dividend payout ratio is presently 10.88%.

Insider Activity at Turning Point Brands

In other news, CAO Brian Wigginton sold 4,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total value of $366,680.00. Following the transaction, the chief accounting officer directly owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This represents a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TPB. Covestor Ltd boosted its holdings in Turning Point Brands by 16.3% in the 4th quarter. Covestor Ltd now owns 663 shares of the company’s stock valued at $72,000 after purchasing an additional 93 shares during the period. Osaic Holdings Inc. lifted its stake in Turning Point Brands by 5.5% during the fourth quarter. Osaic Holdings Inc. now owns 1,888 shares of the company’s stock worth $205,000 after purchasing an additional 98 shares during the period. GAMMA Investing LLC raised its holdings in shares of Turning Point Brands by 33.4% in the 4th quarter. GAMMA Investing LLC now owns 491 shares of the company’s stock worth $53,000 after buying an additional 123 shares in the last quarter. CWM LLC lifted its position in shares of Turning Point Brands by 6.2% during the 4th quarter. CWM LLC now owns 2,706 shares of the company’s stock worth $293,000 after buying an additional 157 shares during the period. Finally, Boston Partners grew its position in Turning Point Brands by 1.5% in the third quarter. Boston Partners now owns 13,712 shares of the company’s stock valued at $1,356,000 after acquiring an additional 206 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.