Turning Point Brands (NYSE:TPB) Hits New 1-Year High - Time to Buy?

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $81.25 and last traded at $74.63, with a volume of 96988 shares traded. The stock had previously closed at $74.43.

Analyst Ratings Changes

TPB has been the topic of a number of recent research reports. Wall Street Zen raised Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 price objective on the stock. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research report on Thursday, March 6th. Finally, Oppenheimer raised their target price on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Turning Point Brands presently has a consensus rating of "Buy" and an average price target of $76.67.

Turning Point Brands Trading Up 1.5%

The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.64 and a current ratio of 4.42. The firm has a fifty day moving average price of $69.19 and a 200 day moving average price of $63.90. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 32.89 and a beta of 0.76.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.16. The company had revenue of $106.44 million during the quarter, compared to the consensus estimate of $95.75 million. Turning Point Brands had a net margin of 10.19% and a return on equity of 27.70%. The company's quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. As a group, equities analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.30 annualized dividend and a yield of 0.40%. Turning Point Brands's dividend payout ratio is 13.16%.

Insider Activity

In related news, Director Stephen Usher sold 600 shares of Turning Point Brands stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $75.25, for a total transaction of $45,150.00. Following the completion of the sale, the director now directly owns 6,175 shares of the company's stock, valued at approximately $464,668.75. This trade represents a 8.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Graham Purdy sold 30,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $75.03, for a total value of $2,250,900.00. Following the completion of the transaction, the chief executive officer now directly owns 227,466 shares in the company, valued at approximately $17,066,773.98. This represents a 11.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,300 shares of company stock valued at $8,666,867 over the last three months. Insiders own 6.60% of the company's stock.

Institutional Trading of Turning Point Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its position in Turning Point Brands by 7.1% during the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock worth $436,000 after buying an additional 482 shares in the last quarter. Ieq Capital LLC bought a new stake in shares of Turning Point Brands during the 4th quarter valued at $368,000. Access Investment Management LLC grew its holdings in shares of Turning Point Brands by 0.4% during the 4th quarter. Access Investment Management LLC now owns 122,125 shares of the company's stock worth $7,340,000 after purchasing an additional 540 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in shares of Turning Point Brands during the 4th quarter worth $212,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Turning Point Brands by 40.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock worth $12,243,000 after purchasing an additional 58,425 shares during the period. Institutional investors and hedge funds own 96.12% of the company's stock.

Turning Point Brands Company Profile

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.