Turning Point Brands’ (TPB) “Buy” Rating Reaffirmed at Benchmark

Benchmark reiterated their buy rating on shares of Turning Point Brands (NYSE:TPB) in a research note published on Friday morning, Benzinga reports. The firm currently has a $45.00 target price on the stock.

Separately, StockNews.com upgraded Turning Point Brands from a buy rating to a strong-buy rating in a research note on Friday, May 17th.

Turning Point Brands Price Performance

NYSE:TPB opened at $37.24 on Friday. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.90. The stock’s 50 day moving average price is $34.09 and its two-hundred day moving average price is $29.79. The firm has a market capitalization of $656.17 million, a price-to-earnings ratio of 16.41 and a beta of 0.62. Turning Point Brands has a 12-month low of $19.67 and a 12-month high of $40.57.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $97.06 million for the quarter. Turning Point Brands had a return on equity of 37.47% and a net margin of 11.36%.

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.75%. Turning Point Brands’s dividend payout ratio (DPR) is currently 12.33%.

Insider Transactions at Turning Point Brands

In other news, CRO Summer Frein bought 2,260 shares of the stock in a transaction dated Thursday, June 13th. The shares were bought at an average price of $30.96 per share, for a total transaction of $69,969.60. Following the completion of the purchase, the executive now owns 17,203 shares in the company, valued at $532,604.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CRO Summer Frein acquired 2,260 shares of the stock in a transaction on Thursday, June 13th. The shares were purchased at an average price of $30.96 per share, for a total transaction of $69,969.60. Following the purchase, the executive now directly owns 17,203 shares in the company, valued at $532,604.88. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lawrence Wexler sold 4,695 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $31.57, for a total value of $148,221.15. Following the transaction, the director now owns 367,701 shares in the company, valued at approximately $11,608,320.57. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds have recently added to or reduced their stakes in TPB. Lazard Asset Management LLC acquired a new stake in shares of Turning Point Brands in the 1st quarter valued at $48,000. AJOVista LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at $47,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Turning Point Brands in the 1st quarter valued at $64,000. Quest Partners LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at $65,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Turning Point Brands in the 2nd quarter valued at $129,000. Institutional investors 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.