Turning Point Brands, Inc. (NYSE:TPB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Turning Point Brands, Inc. (NYSE:TPB) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $116.6667.

TPB has been the topic of several research reports. iA Financial set a $110.00 price objective on shares of Turning Point Brands in a research report on Wednesday, November 5th. Oppenheimer reissued an “outperform” rating and set a $130.00 price target on shares of Turning Point Brands in a report on Wednesday, January 14th. Wall Street Zen cut Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Alliance Global Partners increased their price objective on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Zacks Research downgraded Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th.

Insider Buying and Selling at Turning Point Brands

In other news, Chairman David Edward Glazek sold 30,000 shares of Turning Point Brands stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $110.26, for a total value of $3,307,800.00. Following the sale, the chairman owned 127,083 shares of the company’s stock, valued at $14,012,171.58. The trade was a 19.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director H.C. Charles Diao sold 2,000 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $108.20, for a total transaction of $216,400.00. Following the transaction, the director directly owned 9,804 shares of the company’s stock, valued at $1,060,792.80. This represents a 16.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

Turning Point Brands Stock Performance

Shares of TPB opened at $136.77 on Friday. The company’s 50 day simple moving average is $120.23 and its 200-day simple moving average is $105.56. The firm has a market cap of $2.61 billion, a PE ratio of 48.16 and a beta of 0.87. Turning Point Brands has a 12-month low of $51.48 and a 12-month high of $146.90. The company has a current ratio of 5.56, a quick ratio of 3.98 and a debt-to-equity ratio of 0.82.

Turning Point Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 20th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.32 annualized dividend and a yield of 0.2%. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.08. Turning Point Brands’s dividend payout ratio is presently 10.56%.

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.