SG Americas Securities LLC Grows Position in Turning Point Brands, Inc. (NYSE:TPB)

SG Americas Securities LLC grew its stake in Turning Point Brands, Inc. (NYSE:TPB) by 154.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,261 shares of the company’s stock after purchasing an additional 6,233 shares during the period. SG Americas Securities LLC’s holdings in Turning Point Brands were worth $443,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP bought a new stake in shares of Turning Point Brands in the 1st quarter valued at approximately $1,587,000. Lord Abbett & CO. LLC lifted its stake in shares of Turning Point Brands by 45.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock valued at $7,481,000 after purchasing an additional 79,489 shares during the last quarter. Boston Partners bought a new stake in shares of Turning Point Brands in the 1st quarter valued at approximately $964,000. Tidal Investments LLC bought a new stake in shares of Turning Point Brands in the 1st quarter valued at approximately $1,661,000. Finally, Vanguard Group Inc. lifted its stake in shares of Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after purchasing an additional 92,147 shares during the last quarter. 96.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TPB. Benchmark reissued a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a research note on Friday, August 2nd. StockNews.com raised Turning Point Brands from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Roth Mkm began coverage on 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.

Turning Point Brands Trading Up 2.3 %

Shares of NYSE TPB opened at $43.57 on Thursday. 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 fifty day simple moving average of $40.22 and a two-hundred day simple moving average of $35.19. The firm has a market cap of $767.79 million, a PE ratio of 19.19 and a beta of 0.63. Turning Point Brands, Inc. has a twelve month low of $19.67 and a twelve month high of $43.82.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. The business 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%. Analysts expect that Turning Point Brands, Inc. will post 2.68 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Friday, September 13th. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.33%.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

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.