GAMMA Investing LLC Buys 10,152 Shares of Turning Point Brands, Inc. (NYSE:TPB)

GAMMA Investing LLC boosted its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 14,100.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,224 shares of the company's stock after purchasing an additional 10,152 shares during the quarter. GAMMA Investing LLC owned about 0.06% of Turning Point Brands worth $608,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC acquired a new stake in shares of Turning Point Brands during the fourth quarter worth $48,000. Sunbelt Securities Inc. acquired a new stake in shares of Turning Point Brands during the fourth quarter worth $96,000. Tower Research Capital LLC TRC lifted its holdings 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 worth $142,000 after buying an additional 532 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in shares of Turning Point Brands during the fourth quarter worth $201,000. Finally, Prescott General Partners LLC acquired a new stake in shares of Turning Point Brands during the fourth quarter worth $210,000. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Price Performance

NYSE TPB opened at $74.49 on Thursday. The company has a market cap of $1.33 billion, a PE ratio of 32.67 and a beta of 0.76. Turning Point Brands, Inc. has a 52 week low of $31.45 and a 52 week high of $81.16. The company has a quick ratio of 2.64, a current ratio of 4.42 and a debt-to-equity ratio of 1.44. The firm's 50-day simple moving average is $68.14 and its two-hundred day simple moving average is $63.63.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. The firm had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. Turning Point Brands had a net margin of 10.19% and a return on equity of 27.70%. The company'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 earnings per share. Research analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands's dividend payout ratio is 13.16%.

Insider Transactions at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 1,500 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $73.64, for a total value of $110,460.00. Following the transaction, the director now owns 40,419 shares in the company, valued at $2,976,455.16. The trade was a 3.58% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 completion of the sale, the chief accounting officer now owns 10,171 shares of the company's stock, valued at $770,453.25. The trade was a 25.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,300 shares of company stock worth $8,666,867. Insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

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

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