Turning Point Brands (NYSE:TPB) Reaches New 52-Week High at $32.73

Turning Point Brands, Inc. (NYSE:TPB)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $32.73 and last traded at $32.35, with a volume of 57526 shares trading hands. The stock had previously closed at $29.19.

Turning Point Brands Price Performance

The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.68 and a current ratio of 2.67. The firm has a market cap of $562.75 million, a price-to-earnings ratio of 15.83 and a beta of 0.50. The stock’s 50 day simple moving average is $27.37 and its 200-day simple moving average is $24.92.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.72 earnings per share (EPS) for the quarter. Turning Point Brands had a net margin of 9.49% and a return on equity of 38.62%. The business had revenue of $97.10 million for the quarter, compared to analyst estimates of $90.11 million. During the same quarter in the prior year, the business posted $0.65 EPS. Turning Point Brands’s revenue for the quarter was down 6.1% compared to the same quarter last year.

Turning Point Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a $0.07 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s dividend payout ratio is presently 13.66%.

Insider Transactions at Turning Point Brands

In other news, insider Plano Lorenzo De purchased 15,043 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $27.97 per share, with a total value of $420,752.71. Following the completion of the acquisition, the insider now owns 31,375 shares of the company’s stock, valued at approximately $877,558.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Turning Point Brands

A number of hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd boosted its holdings in Turning Point Brands by 7.4% during the third quarter. Quadrature Capital Ltd now owns 14,899 shares of the company’s stock worth $344,000 after buying an additional 1,026 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Turning Point Brands by 6.8% during the first quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock valued at $532,000 after purchasing an additional 1,159 shares in the last quarter. AJOVista LLC purchased a new position in Turning Point Brands during the fourth quarter valued at $47,000. Hsbc Holdings PLC lifted its holdings in Turning Point Brands by 5.5% during the third quarter. Hsbc Holdings PLC now owns 39,918 shares of the company’s stock valued at $923,000 after purchasing an additional 2,066 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Turning Point Brands during the first quarter valued at $64,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

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.