Turning Point Brands, Inc. (NYSE:TPB) Short Interest Update

by · The Markets Daily

Turning Point Brands, Inc. (NYSE:TPB – Get Free Report) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 141,700 shares, a decline of 21.6% from the September 15th total of 180,800 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average trading volume of 127,100 shares, the days-to-cover ratio is currently 1.1 days.

Insider Buying and Selling

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the transaction, the director now directly owns 46,544 shares in the company, valued at approximately $1,834,764.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors and hedge funds have recently modified their holdings of TPB. Allspring Global Investments Holdings LLC purchased a new stake in Turning Point Brands during the 1st quarter worth about $64,000. BNP Paribas Financial Markets boosted its holdings in Turning Point Brands by 6.8% in the first quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock valued at $532,000 after purchasing an additional 1,159 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Turning Point Brands in the first quarter valued at approximately $1,587,000. Sei Investments Co. raised its holdings in Turning Point Brands by 6.1% during the first quarter. Sei Investments Co. now owns 111,958 shares of the company’s stock worth $3,280,000 after purchasing an additional 6,470 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in Turning Point Brands by 45.2% during the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after purchasing an additional 79,489 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Stock Up 0.9 %

NYSE TPB traded up $0.40 during trading hours on Tuesday, hitting $42.57. 77,253 shares of the company were exchanged, compared to its average volume of 115,305. The company has a 50 day moving average of $40.09 and a two-hundred day moving average of $35.13. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43. The firm has a market cap of $753.91 million, a price-to-earnings ratio of 17.59 and a beta of 0.63. Turning Point Brands has a 52-week low of $19.67 and a 52-week high of $43.25.

Turning Point Brands (NYSE:TPB – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The firm had revenue of $108.51 million for the quarter. Equities research analysts anticipate that Turning Point Brands will post 2.68 earnings per share for the current year.

Turning Point Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on Turning Point Brands

About Turning Point Brands

(Get Free Report)

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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