Turning Point Brands, Inc. (NYSE:TPB) Short Interest Up 87.1% in February

Turning Point Brands, Inc. (NYSE:TPB) saw a large growth in short interest in February. As of February 15th, there was short interest totalling 727,400 shares, a growth of 87.1% from the January 31st total of 388,800 shares. Approximately 4.4% of the company’s stock are sold short. Based on an average trading volume of 205,700 shares, the short-interest ratio is currently 3.5 days.

Turning Point Brands Stock Performance

NYSE TPB opened at $70.30 on Tuesday. The company has a fifty day moving average of $62.50 and a two-hundred day moving average of $53.43. The company has a market capitalization of $1.24 billion, a PE ratio of 27.90 and a beta of 0.65. Turning Point Brands has a 1 year low of $25.79 and a 1 year high of $72.54. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be given a $0.075 dividend. The ex-dividend date is Friday, March 21st. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.43%. Turning Point Brands’s dividend payout ratio is 11.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TPB. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Turning Point Brands in the fourth quarter valued at approximately $2,240,000. Sunbelt Securities Inc. purchased a new stake in Turning Point Brands in the 4th quarter valued at $96,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Turning Point Brands by 115.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,068 shares of the company’s stock worth $1,386,000 after purchasing an additional 12,364 shares during the period. Virtus Fund Advisers LLC acquired a new stake in Turning Point Brands during the 4th quarter worth $48,000. Finally, Virtus Investment Advisers Inc. purchased a new position in Turning Point Brands during the 4th quarter worth $529,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Oppenheimer assumed coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. Benchmark raised their price target on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. StockNews.com raised Turning Point Brands from a “hold” rating to a “buy” rating in a report on Monday. Roth Mkm reiterated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Alliance Global Partners initiated coverage on Turning Point Brands in a research report on Monday. They set a “buy” rating and a $80.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Turning Point Brands presently has a consensus rating of “Buy” and an average target price of $71.00.

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.