Shares of Turning Point Brands Inc (NYSE:TPB) have been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.

Analysts have set a 1-year consensus price target of $30.50 for the company and are predicting that the company will post $0.62 EPS for the current quarter, according to Zacks. Zacks has also given Turning Point Brands an industry rank of 219 out of 255 based on the ratings given to its competitors.

A number of brokerages have recently issued reports on TPB. B. Riley set a $30.00 target price on Turning Point Brands and gave the stock a “buy” rating in a report on Wednesday, May 9th. Zacks Investment Research raised Turning Point Brands from a “sell” rating to a “hold” rating in a report on Thursday, May 3rd.

In related news, major shareholder General L.P. Standard bought 50,000 shares of the company’s stock in a transaction dated Friday, June 8th. The stock was acquired at an average cost of $28.16 per share, with a total value of $1,408,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider James Wells Dobbins sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the insider now directly owns 89,041 shares of the company’s stock, valued at $2,226,025. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Turning Point Brands by 53.2% during the 2nd quarter. BlackRock Inc. now owns 380,487 shares of the company’s stock valued at $12,136,000 after purchasing an additional 132,151 shares in the last quarter. ETF Managers Group LLC increased its holdings in Turning Point Brands by 127.9% during the 1st quarter. ETF Managers Group LLC now owns 224,595 shares of the company’s stock valued at $4,326,000 after purchasing an additional 126,030 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Turning Point Brands during the 1st quarter valued at $4,243,000. Renaissance Technologies LLC increased its holdings in Turning Point Brands by 131.3% during the 4th quarter. Renaissance Technologies LLC now owns 182,300 shares of the company’s stock valued at $3,852,000 after purchasing an additional 103,500 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Turning Point Brands by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 104,739 shares of the company’s stock valued at $3,341,000 after purchasing an additional 6,306 shares in the last quarter. 20.22% of the stock is owned by hedge funds and other institutional investors.

Shares of TPB stock opened at $33.12 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 2.53 and a debt-to-equity ratio of 3.43. Turning Point Brands has a 12 month low of $14.78 and a 12 month high of $34.88. The company has a market capitalization of $656.40 million, a price-to-earnings ratio of 30.67 and a beta of 0.87.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Turning Point Brands had a return on equity of 52.48% and a net margin of 7.29%. The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $82.40 million. During the same quarter last year, the company earned $0.38 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis. equities research analysts forecast that Turning Point Brands will post 1.68 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 21st will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.48%. Turning Point Brands’s payout ratio is presently 14.81%.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through 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.

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