Sentry Investment Management LLC Takes Position in Turning Point Brands, Inc. $TPB

Sentry Investment Management LLC acquired a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 4,606 shares of the company's stock, valued at approximately $329,000.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Turning Point Brands by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 328 shares of the company's stock valued at $25,000 after purchasing an additional 156 shares during the period. Martingale Asset Management L P raised its stake in Turning Point Brands by 0.6% during the 1st quarter. Martingale Asset Management L P now owns 26,370 shares of the company's stock valued at $1,567,000 after purchasing an additional 162 shares during the period. Arizona State Retirement System raised its stake in Turning Point Brands by 4.1% during the 1st quarter. Arizona State Retirement System now owns 5,083 shares of the company's stock valued at $302,000 after purchasing an additional 199 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Turning Point Brands by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company's stock valued at $606,000 after purchasing an additional 459 shares during the period. Finally, Rhumbline Advisers raised its stake in Turning Point Brands by 1.9% during the 1st quarter. Rhumbline Advisers now owns 24,531 shares of the company's stock valued at $1,458,000 after purchasing an additional 464 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. 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 note on Thursday, August 7th. Wall Street Zen downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Needham & Company LLC initiated coverage on Turning Point Brands in a research note on Friday, August 1st. They set a "hold" rating on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Turning Point Brands in a research note on Wednesday, October 8th. Finally, Zacks Research cut Turning Point Brands from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.83.

Turning Point Brands Stock Performance

NYSE TPB opened at $90.95 on Monday. The company has a market cap of $1.64 billion, a P/E ratio of 38.05 and a beta of 0.74. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.67 and a current ratio of 4.22. The business's 50 day moving average price is $97.10 and its 200-day moving average price is $80.43. Turning Point Brands, Inc. has a fifty-two week low of $42.47 and a fifty-two week high of $104.76.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its 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 firm had revenue of $116.63 million for the quarter, compared to the consensus estimate of $107.30 million. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The company's revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. Sell-side analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 19th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, September 19th. Turning Point Brands's dividend payout ratio is 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.

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