Key Points
- Insider sale: SVP Brittani Cushman sold 15,250 shares on Nov. 19 at an average price of $101.66 for about $1.55M, cutting her position by 30.54% to 34,687 shares.
- Earnings beat: Turning Point Brands reported $1.27 EPS versus a $0.81 consensus and $118.98M in revenue (vs. $111.42M), with revenue up 12.7% year-over-year and strong ROE and net margin metrics.
- Dividends and analyst outlook: The company declared a quarterly dividend of $0.075 (annualized $0.30, 0.3% yield, ex-dividend Dec. 19) while analysts mostly rate the stock a "Buy" with an average target of $97 and several price-target increases (Oppenheimer $120).
Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) Director Stephen Usher sold 1,000 shares of Turning Point Brands stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $101.00, for a total transaction of $101,000.00. Following the completion of the transaction, the director owned 5,175 shares of the company's stock, valued at $522,675. This represents a 16.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Turning Point Brands Stock Performance
Shares of NYSE:TPB traded down $0.37 during trading on Friday, hitting $97.56. 460,763 shares of the company were exchanged, compared to its average volume of 416,380. The company has a market cap of $1.86 billion, a PE ratio of 34.35 and a beta of 0.85. The stock has a 50 day moving average of $95.19 and a 200 day moving average of $86.67. Turning Point Brands, Inc. has a 52-week low of $51.48 and a 52-week high of $110.55. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98.
Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.46. The company had revenue of $118.98 million during the quarter, compared to analysts' expectations of $111.42 million. Turning Point Brands had a return on equity of 24.44% and a net margin of 12.02%.The firm's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, equities research analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current year.
Turning Point Brands Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, December 19th. Turning Point Brands's dividend payout ratio is presently 10.56%.
Analyst Ratings Changes
TPB has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Turning Point Brands in a research note on Thursday, October 30th. Industrial Alliance Securities set a $110.00 price target on shares of Turning Point Brands in a report on Wednesday, November 5th. Needham & Company LLC began coverage on Turning Point Brands in a research note on Friday, August 1st. They set a "hold" rating for the company. Oppenheimer boosted their target price on Turning Point Brands from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Zacks Research raised Turning Point Brands from a "hold" rating to a "strong-buy" rating in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Turning Point Brands presently has an average rating of "Buy" and an average target price of $97.00.
Read Our Latest Stock Analysis on TPB
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPB. Arizona State Retirement System increased its stake in Turning Point Brands by 2.2% in the third quarter. Arizona State Retirement System now owns 5,297 shares of the company's stock valued at $524,000 after acquiring an additional 114 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Turning Point Brands by 90.7% in the 2nd quarter. GAMMA Investing LLC now owns 328 shares of the company's stock worth $25,000 after purchasing an additional 156 shares in the last quarter. Martingale Asset Management L P increased its position in shares of Turning Point Brands by 0.6% during the 1st quarter. Martingale Asset Management L P now owns 26,370 shares of the company's stock valued at $1,567,000 after purchasing an additional 162 shares during the last quarter. Huntington National Bank raised its holdings in shares of Turning Point Brands by 54.9% during the 3rd quarter. Huntington National Bank now owns 457 shares of the company's stock valued at $45,000 after buying an additional 162 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Turning Point Brands by 1.5% during the 3rd quarter. Boston Partners now owns 13,712 shares of the company's stock valued at $1,356,000 after buying an additional 206 shares in the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.
Turning Point Brands Company Profile
(
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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