Turning Point Brands (NYSE:TPB) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Turning Point Brands (NYSE:TPB) from a buy rating to a strong-buy rating in a report released on Wednesday morning.

TPB has been the topic of several other reports. Roth Mkm initiated coverage on Turning Point Brands in a 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 Thursday, September 19th. Finally, Benchmark reissued a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a research report on Friday, August 2nd.

Turning Point Brands Stock Performance

Turning Point Brands stock opened at $42.98 on Wednesday. The stock’s 50-day moving average is $40.48 and its 200-day moving average is $35.39. The company has a market cap of $757.39 million, a price-to-earnings ratio of 18.93 and a beta of 0.63. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. Turning Point Brands has a 12 month low of $19.67 and a 12 month high of $43.94.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The company had revenue of $108.51 million for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. Equities analysts anticipate that Turning Point Brands will post 2.68 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, September 13th. Turning Point Brands’s payout ratio is 12.33%.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands 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 stock was 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 of the company’s stock, valued at $1,834,764.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in shares of Turning Point Brands by 72,406.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,876 shares of the company’s stock valued at $469,000 after purchasing an additional 10,861 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Turning Point Brands by 154.7% in the 3rd quarter. SG Americas Securities LLC now owns 10,261 shares of the company’s stock valued at $443,000 after purchasing an additional 6,233 shares in the last quarter. Aristides Capital LLC raised its position in shares of Turning Point Brands by 6.3% in the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after purchasing an additional 12,041 shares in the last quarter. Algert Global LLC increased its holdings in shares of Turning Point Brands by 3.9% in the 2nd quarter. Algert Global LLC now owns 115,970 shares of the company’s stock valued at $3,721,000 after acquiring an additional 4,388 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Turning Point Brands in the 2nd quarter valued at approximately $209,000. 96.12% of the stock is owned by institutional investors and hedge funds.

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.