Quantbot Technologies LP Increases Position in Turning Point Brands, Inc. $TPB

Key Points

• Quantbot Technologies LP increased its stake in Turning Point Brands by 129.4%, acquiring an additional 13,255 shares totaling $1,397,000 in value.
• Turning Point Brands has received a range of analyst ratings, with Zacks Research upgrading its rating to "strong-buy," while Oppenheimer raised its price target to $98.00.
• The company recently announced a quarterly dividend of $0.075 per share, with a payout ratio of 12.55%, set to be paid to stockholders on October 10th.

Quantbot Technologies LP lifted its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 129.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,500 shares of the company's stock after buying an additional 13,255 shares during the period. Quantbot Technologies LP owned approximately 0.13% of Turning Point Brands worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtus Fund Advisers LLC purchased a new position in shares of Turning Point Brands in the 4th quarter worth $48,000. Sunbelt Securities Inc. purchased a new position in shares of Turning Point Brands in the 4th quarter worth $96,000. Tower Research Capital LLC TRC boosted its stake in shares of Turning Point Brands by 29.0% in the 4th 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 during the last quarter. Baird Financial Group Inc. bought a new position in Turning Point Brands in the 4th quarter worth $201,000. Finally, Prescott General Partners LLC purchased a new position in Turning Point Brands during the fourth quarter valued at $210,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Price Performance

Shares of TPB stock traded up $0.59 during trading hours on Thursday, hitting $99.08. The stock had a trading volume of 118,060 shares, compared to its average volume of 273,109. The stock's 50-day moving average price is $83.33 and its two-hundred day moving average price is $71.76. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.22 and a quick ratio of 2.67. Turning Point Brands, Inc. has a one year low of $38.08 and a one year high of $102.90. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 41.46 and a beta of 0.66.

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

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 19th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 19th. Turning Point Brands's payout ratio is presently 12.55%.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, SVP Brittani Cushman sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $74.36, for a total transaction of $557,700.00. Following the sale, the senior vice president directly owned 34,687 shares of the company's stock, valued at $2,579,325.32. The trade was a 17.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Graham Purdy sold 21,400 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $74.89, for a total value of $1,602,646.00. Following the sale, the chief executive officer directly owned 227,466 shares in the company, valued at $17,034,928.74. The trade was a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,300 shares of company stock valued at $8,291,282 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TPB has been the topic of several analyst reports. Zacks Research upgraded Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Wall Street Zen downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Needham & Company LLC initiated coverage on Turning Point Brands in a research report on Friday, August 1st. They set a "hold" rating on the stock. Finally, Oppenheimer lifted their target price on Turning Point Brands from $85.00 to $98.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Turning Point Brands has an average rating of "Buy" and an average target price of $78.83.

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.