Turning Point Brands, Inc. (NYSE:TPB) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 14,100.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,224 shares of the company's stock after buying an additional 10,152 shares during the quarter. GAMMA Investing LLC owned approximately 0.06% of Turning Point Brands worth $608,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Virtus Fund Advisers LLC bought a new stake in Turning Point Brands during the fourth quarter valued at about $48,000. Sunbelt Securities Inc. bought a new stake in Turning Point Brands during the fourth quarter valued at about $96,000. Tower Research Capital LLC TRC boosted its position in 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 purchasing an additional 532 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Turning Point Brands during the fourth quarter valued at about $201,000. Finally, Prescott General Partners LLC bought a new stake in Turning Point Brands during the fourth quarter valued at about $210,000. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Stock Down 1.1%

NYSE TPB traded down $0.83 during trading on Friday, hitting $73.67. The company's stock had a trading volume of 359,207 shares, compared to its average volume of 185,072. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.42 and a quick ratio of 2.64. The company has a market cap of $1.32 billion, a PE ratio of 32.31 and a beta of 0.76. The business's 50 day simple moving average is $69.19 and its 200-day simple moving average is $63.90. Turning Point Brands, Inc. has a fifty-two week low of $31.45 and a fifty-two week high of $81.25.

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 (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.16. Turning Point Brands had a return on equity of 27.70% and a net margin of 10.19%. The firm had revenue of $106.44 million during the quarter, compared to analysts' expectations of $95.75 million. During the same period last year, the business posted $0.63 earnings per share. The company's revenue for the quarter was up 28.2% compared to the same quarter last year. On average, equities analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

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 paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands's payout ratio is 13.16%.

Insider Activity at Turning Point Brands

In related news, CEO Graham Purdy sold 30,000 shares of Turning Point Brands stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $75.03, for a total transaction of $2,250,900.00. Following the completion of the transaction, the chief executive officer now directly owns 227,466 shares in the company, valued at approximately $17,066,773.98. This trade represents a 11.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands stock in a transaction that occurred 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 transaction, 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. Over the last ninety days, insiders sold 115,300 shares of company stock worth $8,666,867. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TPB shares. Wall Street Zen raised Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Oppenheimer raised their price objective 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. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a research report on Thursday, March 6th. Finally, Alliance Global Partners assumed 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. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $76.67.

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.