Algert Global LLC Trims Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Algert Global LLC decreased its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,077 shares of the company’s stock after selling 893 shares during the quarter. Algert Global LLC owned approximately 0.65% of Turning Point Brands worth $4,966,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TPB. Lazard Asset Management LLC acquired a new position in Turning Point Brands during the first quarter worth approximately $48,000. Copeland Capital Management LLC acquired a new stake in shares of Turning Point Brands during the 3rd quarter worth $61,000. SG Americas Securities LLC purchased a new position in shares of Turning Point Brands in the 2nd quarter worth $129,000. The Manufacturers Life Insurance Company acquired a new position in Turning Point Brands in the second quarter valued at $209,000. Finally, Magnetar Financial LLC purchased a new stake in Turning Point Brands during the second quarter valued at about $212,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Oppenheimer assumed coverage on Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. StockNews.com cut shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Roth Mkm assumed coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price objective for the company. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, Benchmark increased their price target on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $60.00.

Turning Point Brands Price Performance

TPB opened at $62.65 on Monday. Turning Point Brands, Inc. has a twelve month low of $21.98 and a twelve month high of $63.51. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 24.86 and a beta of 0.63. The company has a fifty day simple moving average of $46.86 and a 200 day simple moving average of $39.48.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The business had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same period in the previous year, the company earned $0.69 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

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.