Turning Point Brands, Inc. (NYSE:TPB) Receives Average Rating of “Hold” from Brokerages

Turning Point Brands, Inc. (NYSE:TPB) has been assigned an average recommendation of “Hold” from the five research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $116.6667.

Several brokerages have recently commented on TPB. Oppenheimer reiterated an “outperform” rating and set a $130.00 price objective on shares of Turning Point Brands in a report on Wednesday, January 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Wall Street Zen lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Zacks Research cut Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd.

Turning Point Brands Price Performance

Shares of TPB opened at $86.95 on Wednesday. The company has a 50 day moving average of $112.00 and a two-hundred day moving average of $104.41. The company has a quick ratio of 4.12, a current ratio of 5.56 and a debt-to-equity ratio of 0.79. Turning Point Brands has a twelve month low of $51.48 and a twelve month high of $146.90. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 27.78 and a beta of 0.85.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 20th. Turning Point Brands’s dividend payout ratio is currently 10.22%.

Insider Activity at Turning Point Brands

In related news, CFO Andrew Flynn sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total value of $195,140.00. Following the completion of the transaction, the chief financial officer directly owned 9,443 shares of the company’s stock, valued at $921,353.51. This trade represents a 17.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.60% of the stock is owned by insiders.

Institutional Trading of Turning Point Brands

Several large investors have recently bought and sold shares of TPB. First Horizon Corp acquired a new position in Turning Point Brands during the third quarter valued at $25,000. Kemnay Advisory Services Inc. acquired a new stake in Turning Point Brands during the 4th quarter worth about $27,000. Empowered Funds LLC acquired a new stake in Turning Point Brands during the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Turning Point Brands during the 3rd quarter valued at about $28,000. Finally, Advisory Services Network LLC purchased a new position in shares of Turning Point Brands during the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Company Profile

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.