Turning Point Brands, Inc. (NYSE:TPB – Get Free Report)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $61.00 and last traded at $62.5560, with a volume of 89448 shares. The stock had previously closed at $68.14.
Analyst Ratings Changes
A number of equities analysts have issued reports on TPB shares. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a research note on Friday, August 28th. BTIG Research restated a “buy” rating on shares of Turning Point Brands in a research report on Monday, August 10th. Finally, Compass Point set a $116.00 price objective on Turning Point Brands in a research note on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.67.
Get Our Latest Research Report on Turning Point Brands
Turning Point Brands Stock Down 11.5%
Turning Point Brands (NYSE:TPB – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.12 by $0.11. The firm had revenue of $142.96 million during the quarter, compared to the consensus estimate of $129.56 million. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, research analysts anticipate that Turning Point Brands, Inc. will post 1.23 EPS for the current fiscal year.
Turning Point Brands Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a $0.08 dividend. The ex-dividend date is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Turning Point Brands’s dividend payout ratio is currently 13.73%.
Institutional Trading of Turning Point Brands
Hedge funds have recently added to or reduced their stakes in the business. Operose Advisors LLC bought a new stake in shares of Turning Point Brands in the second quarter worth about $42,000. Covestor Ltd raised its position in shares of Turning Point Brands by 16.3% during the fourth quarter. Covestor Ltd now owns 663 shares of the company’s stock worth $72,000 after purchasing an additional 93 shares during the period. Fifth Third Bancorp bought a new position in shares of Turning Point Brands during the 1st quarter valued at about $126,000. Quantbot Technologies LP bought a new position in shares of Turning Point Brands during the 2nd quarter valued at about $209,000. Finally, Bessemer Group Inc. grew its position in shares of Turning Point Brands by 31.0% in the 1st quarter. Bessemer Group Inc. now owns 2,845 shares of the company’s stock valued at $247,000 after purchasing an additional 674 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.
Turning Point Brands Company Profile
Turning Point Brands, Inc is a consumer-products company focused on branded products for the tobacco, smoking-accessory and modern oral categories. Its portfolio includes rolling papers, wraps, smokeless tobacco, nicotine pouches and related products marketed under established brands.
The company’s principal brands include Zig-Zag, which offers rolling papers, cones, wraps and smoking accessories; Stoker’s, known for smokeless tobacco products; and FRE, a brand of nicotine pouches. Turning Point Brands also develops and distributes other alternative and specialty products through its brand portfolio.
Turning Point Brands sells its products primarily through convenience stores, tobacco and vape retailers, specialty retailers, distributors, e-commerce channels and other consumer outlets in the United States, with some products available internationally.
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