Turning Point Brands, Inc. (NYSE:TPB) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC boosted its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 32.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,867 shares of the company’s stock after acquiring an additional 10,033 shares during the quarter. AQR Capital Management LLC’s holdings in Turning Point Brands were worth $1,311,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TPB. Marshall Wace LLP increased its holdings in shares of Turning Point Brands by 0.3% in the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock valued at $3,849,000 after purchasing an additional 367 shares in the last quarter. Magnetar Financial LLC purchased a new position in Turning Point Brands in the second quarter valued at about $212,000. Harspring Capital Management LLC increased its holdings in Turning Point Brands by 13.4% in the second quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock valued at $5,824,000 after buying an additional 21,500 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Turning Point Brands by 16.2% during the 2nd quarter. XTX Topco Ltd now owns 12,300 shares of the company’s stock valued at $395,000 after acquiring an additional 1,714 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Turning Point Brands by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock worth $9,714,000 after acquiring an additional 52,800 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Insider Transactions at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the sale, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

TPB has been the topic of a number of research reports. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research note on Thursday, September 19th. Benchmark reiterated a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a research report on Friday, August 2nd. 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, StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th.

Turning Point Brands Stock Performance

Shares of NYSE TPB opened at $41.35 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. The company has a market cap of $728.67 million, a PE ratio of 18.22 and a beta of 0.63. The company has a 50-day simple moving average of $39.73 and a 200-day simple moving average of $34.77. Turning Point Brands, Inc. has a 12 month low of $19.67 and a 12 month high of $43.25.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. The company had revenue of $108.51 million for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. On average, equities analysts anticipate that Turning Point Brands, Inc. will post 2.68 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, September 13th. Turning Point Brands’s payout ratio is 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.