Nomura Holdings Inc. Purchases Shares of 5,764 Turning Point Brands, Inc. (NYSE:TPB)

Nomura Holdings Inc. acquired a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,764 shares of the company's stock, valued at approximately $346,000.

Other institutional investors also recently added to or reduced their stakes in the company. Northern Right Capital Management L.P. grew its stake in Turning Point Brands by 356.6% during the 4th 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 during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Turning Point Brands by 36.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock worth $19,145,000 after purchasing an additional 84,552 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Turning Point Brands by 205.8% during the fourth quarter. Invesco Ltd. now owns 97,261 shares of the company's stock worth $5,845,000 after purchasing an additional 65,457 shares during the period. Portolan Capital Management LLC purchased a new stake in Turning Point Brands in the fourth quarter valued at approximately $3,817,000. Finally, Charles Schwab Investment Management Inc. increased 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 worth $12,243,000 after buying an additional 58,425 shares during the period. Institutional investors own 96.12% of the company's stock.

Insider Activity at Turning Point Brands

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

Analyst Ratings Changes

Several research firms recently commented on TPB. Oppenheimer raised their target price on Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research note on Thursday, March 6th. Alliance Global Partners started coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price for the company. Finally, Wall Street Zen raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $76.67.

Turning Point Brands Trading Down 1.0%

Shares of NYSE TPB traded down $0.75 during midday trading on Wednesday, reaching $72.71. 14,929 shares of the stock were exchanged, compared to its average volume of 215,185. The stock has a market capitalization of $1.30 billion, a P/E ratio of 28.85 and a beta of 0.69. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The company has a 50 day simple moving average of $63.09 and a 200 day simple moving average of $62.08. Turning Point Brands, Inc. has a twelve month low of $30.61 and a twelve month high of $81.05.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.16. The company had revenue of $106.44 million for 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 company's revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. As a group, equities analysts expect that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 0.41%. The ex-dividend date is Friday, June 20th. Turning Point Brands's dividend payout ratio (DPR) is 13.16%.

Turning Point Brands Company 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.