Turning Point Brands (NYSE:TPB) Reaches New 52-Week High – Should You Buy?

Shares of Turning Point Brands, Inc. (NYSE:TPB) reached a new 52-week high on Thursday . The stock traded as high as $46.29 and last traded at $46.22, with a volume of 13842 shares. The stock had previously closed at $44.61.

Wall Street Analyst Weigh In

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

Turning Point Brands Stock Up 4.8 %

The stock’s fifty day simple moving average is $40.87 and its two-hundred day simple moving average is $35.73. The company has a market capitalization of $828.12 million, a price-to-earnings ratio of 19.45 and a beta of 0.63. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. The firm had revenue of $108.51 million during the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. On average, sell-side analysts anticipate that Turning Point Brands, Inc. will post 2.68 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, September 13th. Turning Point Brands’s payout ratio is 11.57%.

Insider Transactions at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the transaction, the director now owns 46,544 shares in the company, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds have recently made changes to their positions in TPB. Vanguard Group Inc. raised its stake in Turning Point Brands by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after purchasing an additional 92,147 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Turning Point Brands by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock valued at $14,785,000 after buying an additional 4,600 shares in the last quarter. Renaissance Technologies LLC raised its position in Turning Point Brands by 21.1% during the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after buying an additional 52,800 shares during the period. Lord Abbett & CO. LLC lifted its stake 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 worth $7,481,000 after acquiring an additional 79,489 shares in the last quarter. Finally, Aristides Capital LLC boosted its position in Turning Point Brands by 6.3% during the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock worth $6,514,000 after acquiring an additional 12,041 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.