Turning Point Brands (NYSE:TPB) Hits New 1-Year High at $34.85

Turning Point Brands, Inc. (NYSE:TPB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $34.85 and last traded at $34.75, with a volume of 53135 shares changing hands. The stock had previously closed at $34.00.

Analyst Ratings Changes

Several research firms have recently weighed in on TPB. StockNews.com upgraded shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, May 17th. Benchmark reiterated a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a report on Wednesday, June 5th.

Turning Point Brands Price Performance

The company’s fifty day moving average is $32.88 and its 200 day moving average is $28.51. The firm has a market cap of $635.91 million, a price-to-earnings ratio of 15.90 and a beta of 0.62. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.90.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $97.06 million for the quarter. Turning Point Brands had a net margin of 10.68% and a return on equity of 37.62%.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Friday, June 14th. Turning Point Brands’s dividend payout ratio is 12.33%.

Insider Buying and Selling

In other Turning Point Brands news, insider Plano Lorenzo De purchased 4,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average cost of $31.80 per share, with a total value of $127,200.00. Following the completion of the transaction, the insider now owns 34,896 shares in the company, valued at $1,109,692.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Turning Point Brands news, Director Lawrence Wexler sold 4,695 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $31.57, for a total transaction of $148,221.15. Following the sale, the director now directly owns 367,701 shares in the company, valued at $11,608,320.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Plano Lorenzo De acquired 4,000 shares of Turning Point Brands stock in a transaction on Monday, June 17th. The shares were purchased at an average price of $31.80 per share, for a total transaction of $127,200.00. Following the completion of the purchase, the insider now directly owns 34,896 shares of the company’s stock, valued at $1,109,692.80. The disclosure for this purchase can be found here. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Turning Point Brands

A number of large investors have recently bought and sold shares of TPB. Price T Rowe Associates Inc. MD boosted its stake in shares of Turning Point Brands by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company’s stock valued at $371,000 after purchasing an additional 800 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Turning Point Brands by 6.8% in the 1st quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock valued at $532,000 after purchasing an additional 1,159 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Turning Point Brands in the 1st quarter valued at approximately $48,000. Linden Thomas Advisory Services LLC boosted its stake in shares of Turning Point Brands by 10.0% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 18,453 shares of the company’s stock valued at $592,000 after purchasing an additional 1,683 shares in the last quarter. Finally, AJOVista LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at approximately $47,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.