Turning Point Brands (NYSE:TPB) Shares Down 8.8% – What’s Next?

Turning Point Brands, Inc. (NYSE:TPB)’s share price fell 8.8% during trading on Monday . The company traded as low as $80.05 and last traded at $79.9160. 150,040 shares changed hands during trading, a decline of 66% from the average daily volume of 435,309 shares. The stock had previously closed at $87.65.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Friday, May 8th. Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Weiss Ratings cut shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $118.75.

Turning Point Brands Price Performance

The business has a fifty day simple moving average of $85.91 and a two-hundred day simple moving average of $97.39. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.56 billion, a PE ratio of 27.56 and a beta of 0.92.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. The firm had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The business’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. Research analysts forecast that Turning Point Brands, Inc. will post 1.39 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, July 10th. Shareholders of record on Friday, June 19th were issued a $0.08 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands’s dividend payout ratio is 10.88%.

Insider Buying and Selling

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total transaction of $366,680.00. Following the completion of the transaction, the chief accounting officer owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TPB. Covestor Ltd lifted its position in Turning Point Brands by 16.3% during the 4th quarter. Covestor Ltd now owns 663 shares of the company’s stock valued at $72,000 after acquiring an additional 93 shares during the period. Osaic Holdings Inc. boosted its stake in Turning Point Brands by 5.5% during the fourth quarter. Osaic Holdings Inc. now owns 1,888 shares of the company’s stock worth $205,000 after acquiring an additional 98 shares in the last quarter. GAMMA Investing LLC grew its holdings in Turning Point Brands by 33.4% in the fourth quarter. GAMMA Investing LLC now owns 491 shares of the company’s stock worth $53,000 after purchasing an additional 123 shares during the period. CWM LLC grew its holdings in Turning Point Brands by 6.2% in the fourth quarter. CWM LLC now owns 2,706 shares of the company’s stock worth $293,000 after purchasing an additional 157 shares during the period. Finally, Boston Partners increased its stake in shares of Turning Point Brands by 1.5% during the third quarter. Boston Partners now owns 13,712 shares of the company’s stock valued at $1,356,000 after purchasing an additional 206 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Company Profile

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.