Turning Point Brands (NYSE:TPB) Research Coverage Started at Roth Mkm

Roth Mkm initiated coverage on shares of Turning Point Brands (NYSE:TPB) in a research report released on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $50.00 price objective on the stock.

Separately, Benchmark restated a buy rating and set a $45.00 price objective on shares of Turning Point Brands in a research report on Friday, August 2nd.

Turning Point Brands Stock Up 0.5 %

Shares of TPB opened at $41.93 on Thursday. Turning Point Brands has a one year low of $19.67 and a one year high of $42.32. The company has a market cap of $742.58 million, a P/E ratio of 18.47 and a beta of 0.62. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $38.43 and a two-hundred day simple moving average of $33.45.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The business had revenue of $108.51 million during the quarter.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.33%.

Insider Transactions at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the transaction, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TPB. Lazard Asset Management LLC bought a new stake in shares of Turning Point Brands in the first quarter worth $48,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Turning Point Brands in the first quarter worth $64,000. Quest Partners LLC bought a new stake in shares of Turning Point Brands in the fourth quarter worth $65,000. SG Americas Securities LLC bought a new stake in shares of Turning Point Brands in the second quarter worth $129,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Turning Point Brands in the second quarter worth $209,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.