Turning Point Brands (NYSE:TPB) Stock Rating Lowered by ValuEngine

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ValuEngine downgraded shares of Turning Point Brands (NYSE:TPB) from a hold rating to a sell rating in a report issued on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Turning Point Brands from a hold rating to a buy rating and set a $47.00 price target on the stock in a report on Tuesday, July 30th.

Shares of NYSE:TPB opened at $26.70 on Tuesday. The company has a market capitalization of $524.87 million, a price-to-earnings ratio of 15.61 and a beta of 0.68. Turning Point Brands has a 12 month low of $26.39 and a 12 month high of $57.06. The firm’s 50-day moving average is $36.61 and its 200 day moving average is $45.03. The company has a current ratio of 1.78, a quick ratio of 0.39 and a debt-to-equity ratio of 1.80.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. The company had revenue of $93.30 million for the quarter, compared to the consensus estimate of $93.30 million. Turning Point Brands had a net margin of 9.02% and a return on equity of 42.97%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. As a group, equities analysts forecast that Turning Point Brands will post 1.98 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.18 annualized dividend and a yield of 0.67%. Turning Point Brands’s payout ratio is 10.53%.

In related news, Director H.C. Charles Diao bought 2,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $37.70 per share, for a total transaction of $75,400.00. Following the purchase, the director now directly owns 14,000 shares of the company’s stock, valued at $527,800. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert M. Lavan bought 2,500 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $37.03 per share, for a total transaction of $92,575.00. Following the completion of the purchase, the chief financial officer now directly owns 6,000 shares in the company, valued at $222,180. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,763 shares of company stock worth $250,183 over the last quarter. 5.50% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its stake in Turning Point Brands by 14.5% in the 2nd quarter. BlackRock Inc. now owns 654,240 shares of the company’s stock worth $32,044,000 after acquiring an additional 82,870 shares in the last quarter. Vanguard Group Inc. grew its stake in Turning Point Brands by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 404,562 shares of the company’s stock worth $19,816,000 after acquiring an additional 2,904 shares in the last quarter. ETF Managers Group LLC bought a new position in Turning Point Brands in the 2nd quarter worth about $17,603,000. Dimensional Fund Advisors LP grew its stake in Turning Point Brands by 22.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 309,302 shares of the company’s stock worth $8,420,000 after acquiring an additional 56,845 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Turning Point Brands by 5.5% in the 2nd quarter. Invesco Ltd. now owns 147,786 shares of the company’s stock worth $7,238,000 after acquiring an additional 7,725 shares in the last quarter. Institutional investors and hedge funds own 35.99% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products in the United States. The company operates in three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.

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