Turning Point Brands (NYSE:TPB) Reaches New 1-Year High After Dividend Announcement

Turning Point Brands, Inc. (NYSE:TPB)’s stock price hit a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $32.73 and last traded at $32.35, with a volume of 57526 shares. The stock had previously closed at $29.19.

The newly announced dividend which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a $0.07 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.86%. Turning Point Brands’s dividend payout ratio (DPR) is currently 12.33%.

Wall Street Analysts Forecast Growth

Separately, Benchmark increased their price target on Turning Point Brands from $34.00 to $45.00 and gave the stock a “buy” rating in a report on Friday.

Turning Point Brands Stock Up 0.5 %

The company has a quick ratio of 1.68, a current ratio of 2.67 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $578.84 million, a P/E ratio of 14.42 and a beta of 0.50. The firm has a fifty day simple moving average of $27.77 and a 200-day simple moving average of $25.05.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.72 earnings per share (EPS) for the quarter. The business had revenue of $97.10 million during the quarter, compared to the consensus estimate of $90.11 million. Turning Point Brands had a return on equity of 39.00% and a net margin of 10.68%. Turning Point Brands’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share.

Insider Buying and Selling

In other news, insider Plano Lorenzo De acquired 15,043 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $27.97 per share, for a total transaction of $420,752.71. Following the completion of the acquisition, the insider now owns 31,375 shares in the company, valued at $877,558.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TPB. AJOVista LLC acquired a new position in Turning Point Brands during the fourth quarter valued at approximately $47,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Turning Point Brands in the first quarter valued at approximately $64,000. Quest Partners LLC acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $65,000. Tower Research Capital LLC TRC lifted its position in shares of Turning Point Brands by 571.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,017 shares of the company’s stock valued at $106,000 after buying an additional 3,419 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Turning Point Brands in the third quarter valued at approximately $204,000. 96.12% of the stock is owned by institutional investors and hedge funds.

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.