Turning Point Brands, Inc. (NYSE:TPB) released its earnings results on Thursday. The company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.06), Briefing.com reports. Turning Point Brands had a net margin of 12.70% and a return on equity of 101.35%. The company had revenue of $73.30 million for the quarter, compared to the consensus estimate of $71.15 million. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was up 43.9% on a year-over-year basis.
Turning Point Brands (NYSE TPB) opened at $15.61 on Friday. Turning Point Brands has a 52-week low of $11.67 and a 52-week high of $18.99. The firm has a market cap of $299.67, a P/E ratio of 8.08 and a beta of 0.15. The company has a debt-to-equity ratio of 4.51, a quick ratio of 0.29 and a current ratio of 1.52.
The business also recently announced an annual dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, November 27th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, November 24th.
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A number of research analysts have recently weighed in on TPB shares. Cowen and Company reissued a “buy” rating and set a $20.00 target price on shares of Turning Point Brands in a research report on Sunday, September 17th. B. Riley reissued a “buy” rating and set a $20.00 target price on shares of Turning Point Brands in a research report on Friday. FBR & Co reissued a “buy” rating and set a $17.00 target price on shares of Turning Point Brands in a research report on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Turning Point Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th.
In related news, insider James Wells Dobbins sold 12,002 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $16.93, for a total transaction of $203,193.86. Following the sale, the insider now directly owns 96,043 shares in the company, valued at approximately $1,626,007.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder General L.P. Standard purchased 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average price of $17.09 per share, for a total transaction of $1,709,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 203,303 shares of company stock valued at $3,415,466 and have sold 21,002 shares valued at $347,884. 14.20% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Turning Point Brands stock. State Street Corp lifted its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,823 shares of the company’s stock after buying an additional 4,663 shares during the quarter. State Street Corp owned about 0.45% of Turning Point Brands worth $1,301,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 15.84% of the company’s stock.
Turning Point Brands Company Profile
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) 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 chewing tobacco products.
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