5,433 Shares in Turning Point Brands, Inc. $TPB Purchased by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC purchased 5,433 shares of Turning Point Brands, Inc. for approximately $412,000, indicating growing interest from institutional investors.
• Turning Point Brands reported a strong quarterly earnings result of $0.98 EPS, surpassing estimates and showing a year-over-year revenue increase of 25.1%.
• Analysts currently have a consensus rating of "Moderate Buy" for Turning Point Brands, with a target price of $78.83, reflecting mixed sentiments from various brokerages.

Counterpoint Mutual Funds LLC acquired a new position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,433 shares of the company's stock, valued at approximately $412,000.

A number of other hedge funds have also made changes to their positions in the company. Northern Right Capital Management L.P. lifted its position in shares of Turning Point Brands by 63.9% in the first quarter. Northern Right Capital Management L.P. now owns 220,178 shares of the company's stock valued at $13,087,000 after acquiring an additional 85,824 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Turning Point Brands by 21.2% in the 4th quarter. Nuveen Asset Management LLC now owns 189,083 shares of the company's stock valued at $11,364,000 after purchasing an additional 33,080 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Turning Point Brands by 122.3% in the 1st quarter. Teacher Retirement System of Texas now owns 121,804 shares of the company's stock valued at $7,240,000 after purchasing an additional 67,005 shares in the last quarter. Two Sigma Investments LP lifted its holdings in Turning Point Brands by 6.6% in the 4th quarter. Two Sigma Investments LP now owns 108,927 shares of the company's stock valued at $6,547,000 after purchasing an additional 6,726 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Turning Point Brands by 5.8% during the 1st quarter. Invesco Ltd. now owns 102,868 shares of the company's stock worth $6,114,000 after purchasing an additional 5,607 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TPB. Needham & Company LLC started coverage on shares of Turning Point Brands in a research report on Friday, August 1st. They issued a "hold" rating for the company. Oppenheimer upped their price objective on shares of Turning Point Brands from $85.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen lowered shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Zacks Research cut Turning Point Brands from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.83.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $103.05 on Wednesday. The company has a current ratio of 4.22, a quick ratio of 2.67 and a debt-to-equity ratio of 1.30. The company has a 50-day moving average price of $93.42 and a 200 day moving average price of $76.05. Turning Point Brands, Inc. has a 12-month low of $40.35 and a 12-month high of $104.76. The stock has a market cap of $1.86 billion, a P/E ratio of 43.12 and a beta of 0.76.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.19. The business had revenue of $116.63 million during the quarter, compared to analysts' expectations of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The business's revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 EPS. Sell-side analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 19th will be given a $0.075 dividend. The ex-dividend date is Friday, September 19th. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. Turning Point Brands's payout ratio is currently 12.55%.

Turning Point Brands 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.

Want to see what other hedge funds are holding TPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Turning Point Brands, Inc. (NYSE:TPB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.