Turning Point Brands, Inc. (NYSE:TPB) Sees Large Decline in Short Interest

Turning Point Brands, Inc. (NYSE:TPB) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 141,700 shares, a decrease of 21.6% from the September 15th total of 180,800 shares. Based on an average daily volume of 127,100 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.9% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Thursday, September 19th. StockNews.com cut shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Benchmark restated a “buy” rating and set a $45.00 target price on shares of Turning Point Brands in a research report on Friday, August 2nd. Finally, Roth Mkm initiated coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target on the stock.

Turning Point Brands Price Performance

Shares of NYSE TPB traded up $0.03 during mid-day trading on Monday, hitting $42.17. 65,250 shares of the company’s stock traded hands, compared to its average volume of 115,391. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. Turning Point Brands has a 1 year low of $19.67 and a 1 year high of $43.25. The company’s 50-day moving average is $39.82 and its two-hundred day moving average is $34.95. The company has a market capitalization of $746.83 million, a P/E ratio of 17.41 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The company had revenue of $108.51 million during the quarter. On average, equities analysts anticipate that Turning Point Brands will post 2.68 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.66%. Turning Point Brands’s payout ratio is 11.57%.

Insiders Place Their Bets

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the transaction, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Turning Point Brands

Several institutional investors and hedge funds have recently modified their holdings of TPB. Lazard Asset Management LLC bought a new stake in Turning Point Brands during the first quarter valued at about $48,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Turning Point Brands in the 1st quarter valued at about $64,000. SG Americas Securities LLC purchased a new position in shares of Turning Point Brands in the 2nd quarter worth approximately $129,000. The Manufacturers Life Insurance Company purchased a new position in shares of Turning Point Brands in the 2nd quarter worth approximately $209,000. Finally, Magnetar Financial LLC bought a new position in shares of Turning Point Brands during the 2nd quarter worth approximately $212,000. Institutional investors own 96.12% of the company’s stock.

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.