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

AQR Capital Management LLC boosted its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 102.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,478 shares of the company's stock after buying an additional 53,979 shares during the quarter. AQR Capital Management LLC owned approximately 0.60% of Turning Point Brands worth $6,399,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPB. Northern Right Capital Management L.P. lifted its stake in Turning Point Brands by 356.6% in the 4th quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock valued at $8,075,000 after buying an additional 104,931 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Turning Point Brands by 36.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock valued at $19,145,000 after acquiring an additional 84,552 shares during the last quarter. Invesco Ltd. raised its holdings in Turning Point Brands by 205.8% in the 4th quarter. Invesco Ltd. now owns 97,261 shares of the company's stock valued at $5,845,000 after acquiring an additional 65,457 shares during the last quarter. Portolan Capital Management LLC acquired a new position in Turning Point Brands in the 4th quarter valued at $3,817,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Turning Point Brands by 40.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock valued at $12,243,000 after acquiring an additional 58,425 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.

Insider Transactions at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 1,500 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $73.64, for a total value of $110,460.00. Following the completion of the sale, the director now directly owns 40,419 shares in the company, valued at approximately $2,976,455.16. This represents a 3.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Wigginton sold 3,500 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $75.75, for a total value of $265,125.00. Following the completion of the sale, the chief accounting officer now owns 10,171 shares of the company's stock, valued at approximately $770,453.25. This represents a 25.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on TPB shares. StockNews.com downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Oppenheimer boosted their price target on Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Alliance Global Partners started coverage on Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 price target for the company. Finally, Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Turning Point Brands currently has a consensus rating of "Buy" and a consensus price target of $76.67.

Turning Point Brands Trading Up 1.5%

Shares of TPB stock traded up $1.02 on Tuesday, reaching $70.99. 46,603 shares of the stock were exchanged, compared to its average volume of 165,834. The stock has a market cap of $1.27 billion, a P/E ratio of 28.17 and a beta of 0.69. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm has a 50 day moving average of $60.04 and a two-hundred day moving average of $60.32. Turning Point Brands, Inc. has a 1-year low of $30.61 and a 1-year high of $81.05.

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

Turning Point Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be issued a dividend of $0.075 per share. The ex-dividend date is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.42%. Turning Point Brands's payout ratio is 13.16%.

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.