Turning Point Brands (NYSE:TPB) Hits New 1-Year High on Earnings Beat

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) hit a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $81.05 and last traded at $80.88, with a volume of 664071 shares. The stock had previously closed at $64.89.

The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.75 by $0.16. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company had revenue of $106.44 million during the quarter, compared to analysts' expectations of $95.75 million. During the same quarter in the previous year, the business earned $0.63 EPS. The firm's revenue was up 28.2% on a year-over-year basis.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be issued a $0.075 dividend. The ex-dividend date is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.42%. Turning Point Brands's dividend payout ratio (DPR) is presently 13.16%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TPB shares. Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research report on Thursday, March 6th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price on the stock. StockNews.com cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Oppenheimer boosted their price objective on Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $76.67.

Insider Activity

In other news, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $75.75, for a total value of $265,125.00. Following the completion of the transaction, the chief accounting officer now owns 10,171 shares in the company, valued at approximately $770,453.25. This trade represents a 25.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory H.A. Baxter sold 1,500 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $73.64, for a total value of $110,460.00. Following the sale, the director now directly owns 40,419 shares in the company, valued at approximately $2,976,455.16. This represents a 3.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.60% of the company's stock.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors have recently modified their holdings of the business. Virtus Fund Advisers LLC acquired a new position in Turning Point Brands during the 4th quarter valued at approximately $48,000. USA Financial Formulas bought a new stake in Turning Point Brands during the 4th quarter valued at $73,000. Sunbelt Securities Inc. acquired a new position in shares of Turning Point Brands during the fourth quarter valued at $96,000. Tower Research Capital LLC TRC grew its position in Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after buying an additional 532 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in Turning Point Brands in the fourth quarter worth approximately $201,000. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Stock Performance

The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The company has a fifty day moving average price of $60.04 and a two-hundred day moving average price of $60.32. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 28.01 and a beta of 0.69.

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.