Turning Point Brands (NYSE:TPB) Trading Up 3.5% – Here’s Why

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on TPB. StockNews.com downgraded shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday. Benchmark reaffirmed a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a research note on Friday, August 2nd. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Roth Mkm started coverage on Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 target price for the company.

Turning Point Brands Price Performance

The firm has a market capitalization of $790.40 million, a price-to-earnings ratio of 18.44 and a beta of 0.63. The stock’s 50-day moving average price is $40.87 and its 200 day moving average price is $35.73. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. The business had revenue of $108.51 million for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. Equities research analysts expect that Turning Point Brands, Inc. will post 2.68 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

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

Insider Buying and Selling at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the transaction, the director now owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.20% of the stock is owned by company insiders.

Institutional Trading of Turning Point Brands

Several institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. grew its position in Turning Point Brands by 245.9% in the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock worth $4,965,000 after acquiring an additional 109,983 shares during the period. Vanguard Group Inc. increased its position in shares of Turning Point Brands by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after purchasing an additional 92,147 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Turning Point Brands by 45.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock valued at $7,481,000 after buying an additional 79,489 shares during the period. Tidal Investments LLC acquired a new position in Turning Point Brands in the first quarter valued at about $1,661,000. Finally, GSA Capital Partners LLP purchased a new position in Turning Point Brands during the first quarter worth about $1,587,000. Hedge funds and other 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.