Apis Capital Advisors LLC Acquires 9,000 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Apis Capital Advisors LLC boosted its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 19.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,000 shares of the company's stock after purchasing an additional 9,000 shares during the period. Turning Point Brands comprises 2.2% of Apis Capital Advisors LLC's holdings, making the stock its 15th largest position. Apis Capital Advisors LLC owned approximately 0.32% of Turning Point Brands worth $3,366,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. USA Financial Formulas bought a new stake in Turning Point Brands in the 4th quarter valued at about $73,000. Tower Research Capital LLC TRC increased its position in shares of Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after buying an additional 532 shares during the period. Levin Capital Strategies L.P. purchased a new stake in shares of Turning Point Brands in the fourth quarter worth about $212,000. Entropy Technologies LP purchased a new position in Turning Point Brands during the fourth quarter valued at approximately $234,000. Finally, AlphaQuest LLC increased its holdings in Turning Point Brands by 56.4% during the 4th quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock worth $248,000 after acquiring an additional 1,490 shares during the period. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Trading Down 6.9 %

Shares of NYSE TPB traded down $5.59 during midday trading on Thursday, reaching $75.41. The company had a trading volume of 407,527 shares, compared to its average volume of 163,824. The firm's fifty day moving average price is $59.72 and its 200-day moving average price is $59.52. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. Turning Point Brands, Inc. has a one year low of $30.61 and a one year high of $81.05. The stock has a market cap of $1.34 billion, a PE ratio of 29.92 and a beta of 0.69.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.16. The business had revenue of $106.44 million during the quarter, compared to analysts' expectations of $95.75 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm's revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 EPS. On average, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.40%. Turning Point Brands's dividend payout ratio (DPR) is presently 14.15%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TPB shares. Roth Mkm restated a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. StockNews.com downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They issued a "buy" rating and a $80.00 price objective on the stock. Oppenheimer boosted their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $76.67.

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.