Turning Point Brands (NYSE:TPB) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Turning Point Brands (NYSE:TPB – Get Rating) in a report released on Thursday morning. The brokerage issued a hold rating on the stock.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $20.41 on Thursday. The stock has a market cap of $358.40 million, a PE ratio of 39.25 and a beta of 0.49. The business has a 50-day simple moving average of $22.29 and a 200-day simple moving average of $21.82. The company has a quick ratio of 3.39, a current ratio of 6.11 and a debt-to-equity ratio of 3.19. Turning Point Brands has a 52-week low of $18.81 and a 52-week high of $34.31.

Turning Point Brands (NYSE:TPB – Get Rating) last issued its quarterly earnings data on Friday, February 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.30. The business had revenue of $103.39 million during the quarter. Turning Point Brands had a return on equity of 42.27% and a net margin of 2.81%. On average, equities analysts expect that Turning Point Brands will post 2.36 EPS for the current year.

Turning Point Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 7th. Investors of record on Friday, March 17th will be issued a $0.065 dividend. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, March 16th. This represents a $0.26 dividend on an annualized basis and a yield of 1.27%. Turning Point Brands’s dividend payout ratio is presently 46.15%.

Hedge Funds Weigh In On Turning Point Brands

Large investors have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new position in Turning Point Brands in the 4th quarter worth about $38,000. Citigroup Inc. raised its holdings in Turning Point Brands by 97.2% in the 4th quarter. Citigroup Inc. now owns 3,196 shares of the company’s stock worth $69,000 after purchasing an additional 1,575 shares during the period. Tower Research Capital LLC TRC raised its holdings in Turning Point Brands by 25.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the company’s stock worth $76,000 after purchasing an additional 725 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Turning Point Brands by 63.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,911 shares of the company’s stock worth $85,000 after purchasing an additional 1,520 shares during the period. Finally, Legal & General Group Plc raised its holdings in Turning Point Brands by 8.1% in the 2nd quarter. Legal & General Group Plc now owns 5,461 shares of the company’s stock worth $149,000 after purchasing an additional 407 shares during the period. Institutional investors and hedge funds own 83.74% of the company’s stock.

Turning Point Brands Company Profile

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Turning Point Brands, Inc engages in manufacturing, marketing, and distributing branded consumer products including alternative smoking accessories and consumables with active ingredients. It operates through the following segments: Zig-Zag Products, Stoker’s Products, and NewGen products. The Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, and MYO cigar wraps.