Turning Point Brands (NYSE:TPB) Research Coverage Started at Roth Mkm

Roth Mkm initiated coverage on shares of Turning Point Brands (NYSE:TPB) in a research note released on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $50.00 price objective on the stock.

Separately, Benchmark reaffirmed 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

Shares of TPB opened at $41.93 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $742.58 million, a P/E ratio of 18.47 and a beta of 0.62. The firm’s fifty day simple moving average is $38.43 and its two-hundred day simple moving average is $33.45. Turning Point Brands has a 12 month low of $19.67 and a 12 month high of $42.32.

Turning Point Brands (NYSE:TPB) last issued 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 net margin of 11.36% and a return on equity of 36.11%.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.67%. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.33%.

Insider Transactions at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the transaction, the director now owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

A number of institutional investors and hedge funds have recently made changes to their positions in TPB. Quest Partners LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter worth about $65,000. Hsbc Holdings PLC raised its holdings in shares of Turning Point Brands by 10.6% in the 4th quarter. Hsbc Holdings PLC now owns 44,164 shares of the company’s stock worth $1,165,000 after acquiring an additional 4,246 shares during the last quarter. Harspring Capital Management LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter worth about $2,101,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Turning Point Brands in the 1st quarter worth about $64,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Turning Point Brands by 6.8% in the 1st 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 during the last quarter. Institutional investors and hedge funds 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.