Turning Point Brands Inc (NYSE:TPB) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totalling 371,900 shares, a decrease of 11.5% from the May 15th total of 420,300 shares. Based on an average daily volume of 139,000 shares, the short-interest ratio is currently 2.7 days. Approximately 2.0% of the company’s stock are sold short.
Shares of NYSE TPB opened at $52.54 on Friday. The company has a market cap of $1.03 billion, a PE ratio of 30.73 and a beta of 0.66. The firm has a 50-day moving average of $50.58. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.77 and a quick ratio of 0.29. Turning Point Brands has a fifty-two week low of $26.39 and a fifty-two week high of $57.06.
Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.07. Turning Point Brands had a return on equity of 47.17% and a net margin of 8.22%. The company had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $89.00 million. During the same quarter last year, the company earned $0.35 EPS. Turning Point Brands’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Turning Point Brands will post 1.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 21st were paid a $0.045 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.18 annualized dividend and a yield of 0.34%. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.53%.
In other news, Director H.C. Charles Diao bought 2,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was purchased at an average price of $50.54 per share, for a total transaction of $101,080.00. Following the acquisition, the director now owns 12,000 shares in the company, valued at $606,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in Turning Point Brands by 4.0% in the 4th quarter. Victory Capital Management Inc. now owns 10,246 shares of the company’s stock valued at $279,000 after purchasing an additional 398 shares during the last quarter. Rhumbline Advisers lifted its position in Turning Point Brands by 6.3% during the first quarter. Rhumbline Advisers now owns 10,770 shares of the company’s stock worth $496,000 after acquiring an additional 635 shares during the last quarter. Resources Investment Advisors Inc. acquired a new stake in Turning Point Brands during the fourth quarter worth approximately $27,000. Virginia Retirement Systems ET AL lifted its position in Turning Point Brands by 5.3% during the first quarter. Virginia Retirement Systems ET AL now owns 21,700 shares of the company’s stock worth $1,000,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in Turning Point Brands by 960.1% during the fourth quarter. Great West Life Assurance Co. Can now owns 1,993 shares of the company’s stock worth $52,000 after acquiring an additional 1,805 shares during the last quarter. Institutional investors and hedge funds own 31.10% of the company’s stock.
A number of research firms have issued reports on TPB. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. TheStreet cut USD Partners from a “b-” rating to a “c+” rating in a report on Friday, May 10th.
About Turning Point Brands
Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products in the United States. The company operates in three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.
Read More: Hold Rating
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