Turning Point Brands, Inc. (NYSE:TPB) Given Consensus Recommendation of “Hold” by Analysts

Shares of Turning Point Brands, Inc. (NYSE:TPB) have received an average rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $116.6667.

A number of equities analysts recently weighed in on TPB shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Alliance Global Partners lifted their target price on shares of Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Wall Street Zen lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Zacks Research downgraded shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, iA Financial set a $110.00 price objective on shares of Turning Point Brands in a research note on Wednesday, November 5th.

Insiders Place Their Bets

In related news, Chairman David Edward Glazek sold 30,000 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the transaction, the chairman directly owned 127,083 shares of the company’s stock, valued at approximately $14,012,171.58. The trade was a 19.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $216,400.00. Following the completion of the sale, the director directly owned 9,804 shares of the company’s stock, valued at approximately $1,060,792.80. This represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 6.60% of the company’s stock.

Institutional Trading of Turning Point Brands

Hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Turning Point Brands by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock valued at $606,000 after purchasing an additional 459 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Turning Point Brands by 451.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 30,126 shares of the company’s stock valued at $2,283,000 after buying an additional 24,665 shares during the period. Crown Advisors Management Inc. acquired a new stake in shares of Turning Point Brands during the 2nd quarter valued at $1,894,000. Access Investment Management LLC purchased a new position in shares of Turning Point Brands during the 2nd quarter valued at $6,325,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Turning Point Brands by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 91,741 shares of the company’s stock valued at $6,951,000 after acquiring an additional 2,135 shares in the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Stock Performance

TPB opened at $97.38 on Friday. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.79. The firm has a market cap of $1.86 billion, a PE ratio of 31.11 and a beta of 0.85. The business has a fifty day simple moving average of $120.10 and a 200-day simple moving average of $105.72. Turning Point Brands has a fifty-two week low of $51.48 and a fifty-two week high of $146.90.

Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 20th. Turning Point Brands’s payout ratio is 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.