Turning Point Brands (NYSE:TPB) Reaches New 52-Week High – What’s Next?

Turning Point Brands, Inc. (NYSE:TPB) reached a new 52-week high during trading on Monday . The stock traded as high as $120.65 and last traded at $119.8450, with a volume of 16738 shares trading hands. The stock had previously closed at $117.68.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TPB shares. Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Zacks Research lowered Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Industrial Alliance Securities set a $110.00 price objective on Turning Point Brands in a research note on Wednesday, November 5th. Finally, Oppenheimer reissued an “outperform” rating and set a $130.00 target price on shares of Turning Point Brands in a research note on Wednesday, January 14th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.67.

Turning Point Brands Trading Up 0.4%

The company has a current ratio of 5.56, a quick ratio of 3.98 and a debt-to-equity ratio of 0.82. The firm has a market cap of $2.25 billion, a PE ratio of 41.59 and a beta of 0.86. The business has a fifty day moving average price of $106.42 and a 200 day moving average price of $97.41.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.46. Turning Point Brands had a return on equity of 24.44% and a net margin of 12.02%.The firm had revenue of $118.98 million during the quarter, compared to the consensus estimate of $111.42 million. During the same period in the prior year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, December 19th. Turning Point Brands’s dividend payout ratio (DPR) is 10.56%.

Insider Activity

In other news, SVP Brittani Cushman sold 15,250 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $101.66, for a total value of $1,550,315.00. Following the completion of the sale, the senior vice president directly owned 34,687 shares of the company’s stock, valued at approximately $3,526,280.42. The trade was a 30.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen Usher sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $101.00, for a total value of $101,000.00. Following the completion of the sale, the director directly owned 5,175 shares of the company’s stock, valued at approximately $522,675. This trade represents a 16.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 96,220 shares of company stock worth $9,958,542 over the last three months. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds have recently made changes to their positions in TPB. Divisadero Street Capital Management LP increased its position in Turning Point Brands by 3.2% in the 3rd quarter. Divisadero Street Capital Management LP now owns 974,066 shares of the company’s stock valued at $96,296,000 after acquiring an additional 30,282 shares during the period. Thrivent Financial for Lutherans lifted its position in Turning Point Brands by 11.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 808,613 shares of the company’s stock worth $79,940,000 after acquiring an additional 85,716 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Turning Point Brands by 24.9% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 674,809 shares of the company’s stock valued at $66,712,000 after purchasing an additional 134,401 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Turning Point Brands by 1.4% in the second quarter. Geode Capital Management LLC now owns 509,743 shares of the company’s stock valued at $38,629,000 after purchasing an additional 7,104 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Turning Point Brands by 33.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 441,772 shares of the company’s stock valued at $43,674,000 after purchasing an additional 111,590 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.