Turning Point Brands (NYSE:TPB) Sets New 52-Week High – Should You Buy?

Turning Point Brands, Inc. (NYSE:TPB) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $114.21 and last traded at $114.8750, with a volume of 29991 shares changing hands. The stock had previously closed at $110.96.

Analyst Ratings Changes

Several equities research analysts have commented on TPB shares. Wall Street Zen upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Zacks Research lowered Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Industrial Alliance Securities set a $110.00 price objective on Turning Point Brands in a research note on Wednesday, November 5th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Turning Point Brands in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.33.

Turning Point Brands Stock Performance

The company has a current ratio of 5.56, a quick ratio of 3.98 and a debt-to-equity ratio of 0.82. The company has a market cap of $2.19 billion, a P/E ratio of 40.42 and a beta of 0.86. The company’s 50-day moving average price is $103.66 and its two-hundred day moving average price is $94.90.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.46. Turning Point Brands had a return on equity of 24.44% and a net margin of 12.02%.The firm had revenue of $118.98 million for the quarter, compared to analyst estimates of $111.42 million. During the same period in the previous year, the firm earned $0.68 earnings per share. Turning Point Brands’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, December 19th. Turning Point Brands’s dividend payout ratio is 10.56%.

Insider Activity

In other news, SVP Brittani Cushman sold 15,250 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $101.66, for a total transaction of $1,550,315.00. Following the completion of the sale, the senior vice president owned 34,687 shares in the company, valued at $3,526,280.42. The trade was a 30.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director H.C. Charles Diao sold 2,000 shares of the firm’s stock in a transaction on 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 transaction, the director owned 9,804 shares in the company, 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. In the last 90 days, insiders have sold 96,220 shares of company stock worth $9,958,542. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Turning Point Brands by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock worth $606,000 after buying an additional 459 shares in the last quarter. Rhumbline Advisers lifted its holdings in Turning Point Brands by 1.9% during the 1st quarter. Rhumbline Advisers now owns 24,531 shares of the company’s stock valued at $1,458,000 after purchasing an additional 464 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Turning Point Brands by 20.2% during the 1st quarter. Voya Investment Management LLC now owns 18,933 shares of the company’s stock worth $1,125,000 after buying an additional 3,187 shares during the period. Longboard Asset Management LP acquired a new position in shares of Turning Point Brands in the second quarter valued at approximately $236,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Turning Point Brands by 90.7% during the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock worth $25,000 after buying an additional 156 shares in the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

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.