ProShare Advisors LLC Buys Shares of 4,826 Turning Point Brands, Inc. (NYSE:TPB)

ProShare Advisors LLC purchased a new position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,826 shares of the company's stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northern Right Capital Management L.P. lifted its stake in shares of Turning Point Brands by 356.6% in the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock worth $8,075,000 after buying an additional 104,931 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Turning Point Brands by 36.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock worth $19,145,000 after acquiring an additional 84,552 shares during the period. Invesco Ltd. boosted its position in shares of Turning Point Brands by 205.8% during 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 shares of Turning Point Brands during the 4th quarter valued at about $3,817,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Turning Point Brands by 40.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock valued at $12,243,000 after purchasing an additional 58,425 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 1,500 shares of the business's stock in a transaction on Friday, May 9th. The shares were 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 of the company's stock, valued at $2,976,455.16. The trade was a 3.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $75.75, for a total value of $265,125.00. Following the sale, the chief accounting officer now owns 10,171 shares in the company, valued at $770,453.25. This trade represents a 25.60% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.60% of the company's stock.

Turning Point Brands Stock Down 1.8%

Turning Point Brands stock traded down $1.34 during trading on Tuesday, reaching $74.12. The stock had a trading volume of 83,971 shares, compared to its average volume of 172,401. Turning Point Brands, Inc. has a 52-week low of $30.61 and a 52-week high of $81.05. The business has a 50 day moving average price of $64.28 and a 200 day moving average price of $62.61. 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 stock has a market cap of $1.33 billion, a PE ratio of 29.41 and a beta of 0.69.

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

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, June 20th. Turning Point Brands's dividend payout ratio (DPR) is 13.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Alliance Global Partners initiated coverage on Turning Point Brands in a report on Monday, March 3rd. They set a "buy" rating and a $80.00 price target for the company. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research report on Thursday, March 6th. Oppenheimer boosted their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $76.67.

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.