Turning Point Brands (NYSE:TPB) Sets New 52-Week High – Time to Buy?

Shares of Turning Point Brands, Inc. (NYSE:TPB) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $52.76 and last traded at $52.46, with a volume of 34319 shares traded. The stock had previously closed at $51.69.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Roth Mkm assumed coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 target price on the stock. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Benchmark raised their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th.

Turning Point Brands Stock Performance

The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.17. The stock has a market capitalization of $973.50 million, a P/E ratio of 21.83 and a beta of 0.63. The company has a 50 day simple moving average of $43.21 and a 200-day simple moving average of $37.71.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The business had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a $0.07 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a yield of 0.51%. Turning Point Brands’s dividend payout ratio is currently 11.11%.

Insider Activity

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the transaction, the director now directly owns 46,544 shares in the company, valued at approximately $1,834,764.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPB. Marshall Wace LLP increased its position in shares of Turning Point Brands by 0.3% during the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock valued at $3,849,000 after purchasing an additional 367 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Turning Point Brands by 8.9% in the 2nd quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock valued at $271,000 after acquiring an additional 693 shares during the last quarter. Access Investment Management LLC increased its stake in Turning Point Brands by 0.6% in the 2nd quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock worth $3,895,000 after purchasing an additional 745 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Turning Point Brands by 6.8% in the first 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 during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Turning Point Brands by 6.8% in the first quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock worth $532,000 after buying an additional 1,159 shares during the period. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

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.