Turning Point Brands (NYSE:TPB) Hits New 1-Year High at $34.04

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $34.04 and last traded at $34.01, with a volume of 17737 shares traded. The stock had previously closed at $33.70.

Wall Street Analysts Forecast Growth

Separately, Benchmark boosted their price objective on Turning Point Brands from $34.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, May 3rd.

Turning Point Brands Stock Up 1.1 %

The firm's 50-day moving average is $28.68 and its 200 day moving average is $25.45. The firm has a market capitalization of $600.49 million, a P/E ratio of 15.01 and a beta of 0.50. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.59 and a current ratio of 2.55.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.72 EPS for the quarter. Turning Point Brands had a return on equity of 37.62% and a net margin of 10.68%. The company had revenue of $97.10 million for the quarter, compared to analyst estimates of $90.11 million. During the same period in the previous year, the company posted $0.65 earnings per share. The company's quarterly revenue was down 6.1% compared to the same quarter last year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, June 14th. Turning Point Brands's dividend payout ratio is presently 12.33%.

Insider Buying and Selling

In related news, insider Plano Lorenzo De acquired 15,043 shares of the firm's stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $27.97 per share, for a total transaction of $420,752.71. Following the acquisition, the insider now directly owns 31,375 shares of the company's stock, valued at $877,558.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. AJOVista LLC acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $47,000. Allspring Global Investments Holdings LLC acquired a new stake in Turning Point Brands during the 1st quarter valued at $64,000. Quest Partners LLC bought a new position in Turning Point Brands during the fourth quarter worth $65,000. Tower Research Capital LLC TRC increased its holdings in shares of Turning Point Brands by 571.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,017 shares of the company's stock valued at $106,000 after purchasing an additional 3,419 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Turning Point Brands in the third quarter valued at about $204,000. 96.12% of the stock is owned by institutional investors.

About Turning Point Brands

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.