Turning Point Brands (NYSE:TPB) Stock Price Down 5.3% – Should You Sell?

Turning Point Brands, Inc. (NYSE:TPB) shares fell 5.3% during mid-day trading on Tuesday . The stock traded as low as $81.10 and last traded at $80.07. 40,636 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 408,704 shares. The stock had previously closed at $84.54.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $130.00 price objective on shares of Turning Point Brands in a research report on Wednesday, January 14th. Wall Street Zen cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Zacks Research cut shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $116.67.

Turning Point Brands Price Performance

The company has a quick ratio of 4.12, a current ratio of 5.56 and a debt-to-equity ratio of 0.79. The stock’s 50-day simple moving average is $99.42 and its two-hundred day simple moving average is $102.26. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 24.96 and a beta of 1.02.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 20th were given a dividend of $0.08 per share. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, March 20th. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.22%.

Insiders Place Their Bets

In other news, CFO Andrew Flynn sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total transaction of $195,140.00. Following the completion of the sale, the chief financial officer owned 9,443 shares of the company’s stock, valued at $921,353.51. This represents a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

A number of hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Turning Point Brands by 72.1% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 58,377 shares of the company’s stock valued at $5,771,000 after purchasing an additional 24,460 shares during the period. GatePass Capital LLC purchased a new stake in shares of Turning Point Brands in the third quarter valued at about $1,119,000. Vest Financial LLC purchased a new stake in shares of Turning Point Brands in the third quarter valued at about $1,419,000. HighTower Advisors LLC purchased a new stake in shares of Turning Point Brands in the third quarter valued at about $3,735,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Turning Point Brands in the third quarter valued at about $2,230,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.