272 Capital LP Buys New Position in Turning Point Brands, Inc. (NYSE:TPB)

272 Capital LP purchased a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) in the third quarter, HoldingsChannel reports. The institutional investor purchased 34,492 shares of the company’s stock, valued at approximately $1,488,000.

Several other hedge funds and other institutional investors have also modified their holdings of TPB. Copeland Capital Management LLC acquired a new stake in Turning Point Brands during the third quarter worth about $61,000. SG Americas Securities LLC bought a new stake in shares of Turning Point Brands in the 2nd quarter worth approximately $129,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Turning Point Brands during the 2nd quarter worth approximately $209,000. Magnetar Financial LLC acquired a new stake in shares of Turning Point Brands during the 2nd quarter worth approximately $212,000. Finally, Aigen Investment Management LP bought a new stake in shares of Turning Point Brands during the third quarter valued at approximately $221,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on TPB. Benchmark raised their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Roth Mkm started coverage on shares of Turning Point Brands in a research note on Thursday, September 19th. They set a “buy” rating and a $50.00 price target for the company. Finally, Oppenheimer started coverage on Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $63.75.

Turning Point Brands Stock Down 1.5 %

TPB opened at $61.46 on Friday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 24.68 and a beta of 0.66. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The firm’s 50-day simple moving average is $52.72 and its 200-day simple moving average is $42.24. Turning Point Brands, Inc. has a twelve month low of $21.98 and a twelve month high of $66.18.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm had revenue of $105.62 million for the quarter, compared to analysts’ expectations of $100.71 million. During the same period in the prior year, the firm earned $0.69 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s dividend payout ratio is currently 11.11%.

Turning Point Brands Profile

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.