Rhumbline Advisers Boosts Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Rhumbline Advisers increased its position in Turning Point Brands, Inc. (NYSE:TPB) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,422 shares of the company’s stock after acquiring an additional 1,780 shares during the quarter. Rhumbline Advisers owned about 0.14% of Turning Point Brands worth $816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in shares of Turning Point Brands during the first quarter worth about $1,587,000. Harspring Capital Management LLC purchased a new position in shares of Turning Point Brands in the fourth quarter worth $2,101,000. Lord Abbett & CO. LLC boosted its position in shares of Turning Point Brands by 45.2% during the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after acquiring an additional 79,489 shares during the last quarter. Boston Partners purchased a new position in Turning Point Brands during the first quarter valued at $964,000. Finally, Tidal Investments LLC purchased a new position in Turning Point Brands during the first quarter valued at $1,661,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the transaction, the director now owns 46,544 shares in the company, valued at $1,834,764.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TPB. Benchmark restated a “buy” rating and set a $45.00 price objective on shares of Turning Point Brands in a research report on Friday, August 2nd. StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Friday. Roth Mkm began coverage on Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th.

Turning Point Brands Trading Up 0.4 %

Shares of Turning Point Brands stock opened at $42.09 on Tuesday. The firm has a market cap of $741.71 million, a price-to-earnings ratio of 18.54 and a beta of 0.62. Turning Point Brands, Inc. has a twelve month low of $19.67 and a twelve month high of $42.63. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43. The business has a 50-day moving average price of $38.55 and a 200-day moving average price of $33.59.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The company had revenue of $108.51 million during the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a $0.07 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.28 annualized dividend and a yield of 0.67%. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Turning Point Brands Company 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.