Short Interest in Turning Point Brands, Inc. (NYSE:TPB) Drops By 57.4%

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 215,900 shares, a drop of 57.4% from the March 15th total of 506,900 shares. Approximately 1.3% of the company's shares are sold short. Based on an average trading volume of 126,200 shares, the short-interest ratio is presently 1.7 days.

Turning Point Brands Stock Up 0.3 %

TPB stock traded up $0.07 during mid-day trading on Thursday, reaching $27.56. 57,041 shares of the company traded hands, compared to its average volume of 124,743. The stock has a market cap of $487.18 million, a price-to-earnings ratio of 13.44 and a beta of 0.48. Turning Point Brands has a fifty-two week low of $19.67 and a fifty-two week high of $29.86. The firm's 50 day moving average price is $26.07 and its 200 day moving average price is $24.41. The company has a quick ratio of 1.68, a current ratio of 2.67 and a debt-to-equity ratio of 2.02.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.72 earnings per share (EPS) for the quarter. Turning Point Brands had a net margin of 9.49% and a return on equity of 38.62%. The firm had revenue of $97.10 million for the quarter, compared to the consensus estimate of $90.11 million. During the same period in the previous year, the firm earned $0.65 EPS. The business's revenue for the quarter was down 6.1% compared to the same quarter last year.

Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, March 21st. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.07. This represents a $0.28 annualized dividend and a dividend yield of 1.02%. Turning Point Brands's dividend payout ratio (DPR) is currently 13.66%.

Insiders Place Their Bets

In other Turning Point Brands news, insider Plano Lorenzo De purchased 15,043 shares of the company's stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $27.97 per share, with a total value of $420,752.71. Following the completion of the purchase, the insider now owns 31,375 shares in the company, valued at $877,558.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.80% of the company's stock.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in TPB. Foundry Partners LLC grew its holdings in Turning Point Brands by 11.6% during the third quarter. Foundry Partners LLC now owns 189,475 shares of the company's stock valued at $4,375,000 after purchasing an additional 19,735 shares during the period. SG Americas Securities LLC increased its holdings in Turning Point Brands by 99.1% in the 4th quarter. SG Americas Securities LLC now owns 26,052 shares of the company's stock worth $686,000 after acquiring an additional 12,970 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Turning Point Brands in the 4th quarter valued at about $422,000. Assenagon Asset Management S.A. lifted its holdings in Turning Point Brands by 183.3% during the third quarter. Assenagon Asset Management S.A. now owns 198,823 shares of the company's stock valued at $4,591,000 after purchasing an additional 128,645 shares during the last quarter. Finally, Strategic Income Management LLC bought a new position in Turning Point Brands during the third quarter worth about $809,000. 96.12% of the stock is owned by hedge funds and other 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.

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