Turning Point Brands (NYSE:TPB) Hits New 12-Month High – Here’s Why

Turning Point Brands, Inc. (NYSE:TPB)’s stock price hit a new 52-week high on Monday . The company traded as high as $72.54 and last traded at $70.41, with a volume of 17448 shares trading hands. The stock had previously closed at $70.30.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TPB. Craig Hallum boosted their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Oppenheimer initiated coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target for the company. Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday. They set a “buy” rating and a $80.00 price objective on the stock. StockNews.com raised Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $71.00.

Turning Point Brands Stock Performance

The stock has a fifty day simple moving average of $62.66 and a 200-day simple moving average of $53.62. The stock has a market cap of $1.19 billion, a P/E ratio of 26.59 and a beta of 0.74. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.

Turning Point Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 21st. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.45%. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.90%.

Institutional Investors Weigh In On Turning Point Brands

Several institutional investors have recently bought and sold shares of TPB. Virtus Fund Advisers LLC acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $48,000. USA Financial Formulas bought a new position in Turning Point Brands in the fourth quarter valued at $73,000. Sunbelt Securities Inc. acquired a new stake in Turning Point Brands in the 4th quarter valued at $96,000. Tower Research Capital LLC TRC lifted its position in Turning Point Brands by 29.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after buying an additional 532 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new position in shares of Turning Point Brands during the 4th quarter worth about $201,000. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Company Profile

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.