Ameriprise Financial Inc. Makes New Investment in Turning Point Brands, Inc. (NYSE:TPB)

Ameriprise Financial Inc. bought a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,917 shares of the company’s stock, valued at approximately $957,000. Ameriprise Financial Inc. owned about 0.09% of Turning Point Brands at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Sei Investments Co. increased its position in Turning Point Brands by 0.4% during the fourth quarter. Sei Investments Co. now owns 78,087 shares of the company’s stock worth $4,693,000 after buying an additional 283 shares during the last quarter. Principal Financial Group Inc. increased its position in Turning Point Brands by 7.1% during the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock worth $436,000 after buying an additional 482 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after buying an additional 532 shares during the last quarter. Access Investment Management LLC increased its position in Turning Point Brands by 0.4% during the fourth quarter. Access Investment Management LLC now owns 122,125 shares of the company’s stock worth $7,340,000 after buying an additional 540 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in Turning Point Brands by 6.0% during the fourth quarter. MetLife Investment Management LLC now owns 10,373 shares of the company’s stock worth $623,000 after buying an additional 587 shares during the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Turning Point Brands

In related news, CAO Brian Wigginton sold 3,500 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $75.75, for a total value of $265,125.00. Following the completion of the sale, the chief accounting officer now owns 10,171 shares in the company, valued at approximately $770,453.25. This trade represents a 25.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory H.A. Baxter sold 1,500 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $73.64, for a total transaction of $110,460.00. Following the completion of the transaction, the director now directly owns 40,419 shares of the company’s stock, valued at $2,976,455.16. This trade represents a 3.58% decrease in their position. The disclosure for this sale can be found here. 6.60% of the stock is owned by corporate insiders.

Turning Point Brands Stock Up 2.4%

TPB stock opened at $74.43 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands, Inc. has a 52-week low of $30.61 and a 52-week high of $81.05. The company has a 50-day moving average of $63.96 and a two-hundred day moving average of $62.51. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 29.54 and a beta of 0.69.

Turning Point Brands (NYSE:TPB) last released its earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.16. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business had revenue of $106.44 million during the quarter, compared to analysts’ expectations of $95.75 million. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue was up 28.2% on a year-over-year basis. As a group, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 20th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands’s payout ratio is presently 13.16%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 target price on the stock. Wall Street Zen upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Oppenheimer upped their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Finally, Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a report on Thursday, March 6th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Turning Point Brands has a consensus rating of “Buy” and a consensus price target of $76.67.

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.