Turning Point Brands, Inc. (NYSE:TPB) Short Interest Down 15.3% in May

Turning Point Brands, Inc. (NYSE:TPBGet Rating) was the target of a significant drop in short interest in May. As of May 31st, there was short interest totalling 663,300 shares, a drop of 15.3% from the May 15th total of 782,800 shares. Based on an average daily volume of 214,300 shares, the short-interest ratio is presently 3.1 days. Approximately 3.8% of the company’s stock are short sold.

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its stake in shares of Turning Point Brands by 123.0% in the 4th quarter. BNP Paribas Arbitrage SA now owns 5,798 shares of the company’s stock valued at $219,000 after purchasing an additional 3,198 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Turning Point Brands by 61.2% in the 4th quarter. M&T Bank Corp now owns 10,865 shares of the company’s stock valued at $410,000 after purchasing an additional 4,126 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at $399,000. Point72 Hong Kong Ltd lifted its stake in shares of Turning Point Brands by 13.7% in the 3rd quarter. Point72 Hong Kong Ltd now owns 3,078 shares of the company’s stock valued at $147,000 after purchasing an additional 372 shares during the last quarter. Finally, Forager Funds Management Pty Ltd acquired a new position in Turning Point Brands during the 4th quarter worth $5,013,000. Institutional investors and hedge funds own 82.81% of the company’s stock.

Turning Point Brands stock traded up $1.20 during mid-day trading on Friday, hitting $28.14. The company’s stock had a trading volume of 4,297 shares, compared to its average volume of 164,876. The company has a quick ratio of 2.71, a current ratio of 4.49 and a debt-to-equity ratio of 3.15. The stock has a market capitalization of $510.46 million, a P/E ratio of 10.78 and a beta of 0.53. Turning Point Brands has a twelve month low of $25.56 and a twelve month high of $54.49. The stock’s fifty day moving average price is $29.25 and its two-hundred day moving average price is $32.75.

Turning Point Brands (NYSE:TPBGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.19. The firm had revenue of $100.90 million for the quarter, compared to analyst estimates of $102.09 million. Turning Point Brands had a net margin of 11.69% and a return on equity of 45.02%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 earnings per share. Equities analysts expect that Turning Point Brands will post 2.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Friday, June 17th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, June 16th. Turning Point Brands’s payout ratio is 9.60%.

A number of equities analysts have issued reports on the stock. Barclays cut their target price on shares of Turning Point Brands from $46.00 to $38.00 in a report on Thursday, February 24th. Craig Hallum cut their target price on shares of Turning Point Brands from $65.00 to $50.00 in a report on Thursday, April 28th. TheStreet cut shares of Turning Point Brands from a “b-” rating to a “c+” rating in a report on Thursday, May 19th. Finally, StockNews.com assumed coverage on shares of Turning Point Brands in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

Turning Point Brands Company Profile (Get Rating)

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 NewGen Products. The Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products under the Zig-Zag brand.

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