Turning Point Brands (TPB) Hits New 52-Week High and Low at $31.00

Turning Point Brands (NYSE:TPB) reached a new 52-week high and low during trading on Thursday . The company traded as low as $31.00 and last traded at $31.20, with a volume of 1893 shares trading hands. The stock had previously closed at $30.22.

A number of equities research analysts have recently commented on TPB shares. Zacks Investment Research cut Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 14th. Cowen restated a “buy” rating on shares of Turning Point Brands in a research report on Thursday, March 15th. Finally, B. Riley set a $30.00 price target on shares of Turning Point Brands and gave the company a “buy” rating in a research note on Wednesday, May 9th.

The company has a market cap of $558.09 million, a price-to-earnings ratio of 28.92 and a beta of 1.01. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.61 and a current ratio of 2.53.



Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Wednesday, May 9th. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The firm had revenue of $73.90 million for the quarter, compared to analyst estimates of $70.70 million. Turning Point Brands had a net margin of 7.29% and a return on equity of 52.48%. Turning Point Brands’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $0.29 EPS. analysts predict that Turning Point Brands will post 1.62 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 22nd will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Thursday, June 21st. Turning Point Brands’s dividend payout ratio is presently 14.81%.

In other Turning Point Brands news, major shareholder General L.P. Standard bought 50,000 shares of the firm’s stock in a transaction on Friday, June 8th. The shares were acquired at an average cost of $28.16 per share, with a total value of $1,408,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider James Wells Dobbins sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the insider now directly owns 89,041 shares in the company, valued at $2,226,025. The disclosure for this sale can be found here. Insiders sold a total of 13,965 shares of company stock worth $366,662 over the last ninety days. 6.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC purchased a new position in Turning Point Brands in the 1st quarter worth approximately $234,000. Citadel Advisors LLC purchased a new position in Turning Point Brands in the 1st quarter worth approximately $265,000. Schwab Charles Investment Management Inc. purchased a new position in Turning Point Brands in the 1st quarter worth approximately $315,000. JPMorgan Chase & Co. lifted its stake in Turning Point Brands by 274.7% in the 1st quarter. JPMorgan Chase & Co. now owns 18,035 shares of the company’s stock worth $350,000 after purchasing an additional 13,222 shares in the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new position in Turning Point Brands in the 4th quarter worth approximately $381,000. 21.68% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.

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