Turning Point Brands, Inc. (NYSE:TPB) Stock Holdings Lifted by Rhumbline Advisers

Rhumbline Advisers raised its position in Turning Point Brands, Inc. (NYSE:TPB) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,531 shares of the company’s stock after purchasing an additional 464 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Turning Point Brands worth $1,458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Turning Point Brands by 14,100.0% in the first quarter. GAMMA Investing LLC now owns 10,224 shares of the company’s stock valued at $608,000 after purchasing an additional 10,152 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Turning Point Brands in the fourth quarter valued at about $2,240,000. Sunbelt Securities Inc. purchased a new position in Turning Point Brands in the fourth quarter valued at about $96,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Turning Point Brands by 115.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,068 shares of the company’s stock valued at $1,386,000 after purchasing an additional 12,364 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new position in Turning Point Brands in the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Performance

TPB opened at $74.49 on Thursday. The company has a market cap of $1.33 billion, a PE ratio of 32.67 and a beta of 0.76. The stock has a 50-day moving average of $68.14 and a 200-day moving average of $63.63. Turning Point Brands, Inc. has a 52-week low of $31.45 and a 52-week high of $81.16. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.64 and a current ratio of 4.42.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.16. Turning Point Brands had a return on equity of 27.70% and a net margin of 10.19%. The company had revenue of $106.44 million during the quarter, compared to the consensus estimate of $95.75 million. During the same quarter in the prior year, the company posted $0.63 EPS. The firm’s revenue was up 28.2% on a year-over-year basis. As a group, equities research analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, June 20th. Turning Point Brands’s dividend payout ratio (DPR) is currently 13.16%.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 10,800 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.67, for a total value of $817,236.00. Following the sale, the chief accounting officer now owns 10,171 shares of the company’s stock, valued at $769,639.57. This trade represents a 51.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lawrence Wexler sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $75.94, for a total value of $1,898,500.00. Following the completion of the sale, the director now directly owns 330,186 shares in the company, valued at $25,074,324.84. This trade represents a 7.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,300 shares of company stock valued at $8,666,867 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

About Turning Point Brands

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.