Turning Point Brands (NYSE:TPB) Upgraded by StockNews.com to “Strong-Buy”

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

A number of other research analysts have also commented on the company. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th. Roth Mkm assumed coverage on Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Benchmark reiterated a “buy” rating and issued a $45.00 price objective on shares of Turning Point Brands in a research report on Friday, August 2nd.

Turning Point Brands Stock Up 2.3 %

NYSE TPB opened at $43.57 on Wednesday. The firm has a market cap of $767.79 million, a PE ratio of 19.19 and a beta of 0.63. Turning Point Brands has a one year low of $19.67 and a one year high of $43.82. The stock’s 50 day simple moving average is $40.22 and its 200 day simple moving average is $35.19. 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 (NYSE:TPB) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The business 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%. As a group, sell-side analysts forecast that Turning Point Brands will post 2.68 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Friday, September 13th. Turning Point Brands’s dividend payout ratio (DPR) is currently 12.33%.

Insider Activity

In other 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 transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TPB. Marshall Wace LLP lifted its holdings in Turning Point Brands by 0.3% during the second quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after acquiring an additional 367 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Turning Point Brands by 8.9% during the second quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock worth $271,000 after acquiring an additional 693 shares in the last quarter. Access Investment Management LLC lifted its holdings in Turning Point Brands by 0.6% during the second quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock worth $3,895,000 after acquiring an additional 745 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Turning Point Brands by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company’s stock worth $371,000 after acquiring an additional 800 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Turning Point Brands by 6.8% during the first quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock worth $532,000 after acquiring an additional 1,159 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

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.