SG Americas Securities LLC Has $500,000 Holdings in Turning Point Brands, Inc. (NYSE:TPB)

SG Americas Securities LLC raised its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 69.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,413 shares of the company's stock after buying an additional 3,438 shares during the quarter. SG Americas Securities LLC's holdings in Turning Point Brands were worth $500,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Ameriprise Financial Inc. bought a new position in shares of Turning Point Brands during the fourth quarter worth $957,000. ProShare Advisors LLC acquired a new stake in Turning Point Brands during the 4th quarter worth $290,000. Rhumbline Advisers lifted its holdings in Turning Point Brands by 1.9% during the first quarter. Rhumbline Advisers now owns 24,531 shares of the company's stock worth $1,458,000 after acquiring an additional 464 shares in the last quarter. Northern Trust Corp grew its stake in Turning Point Brands by 7.9% in the fourth quarter. Northern Trust Corp now owns 160,386 shares of the company's stock valued at $9,639,000 after acquiring an additional 11,808 shares during the period. Finally, GAMMA Investing LLC grew its stake in Turning Point Brands by 14,100.0% in the first quarter. GAMMA Investing LLC now owns 10,224 shares of the company's stock valued at $608,000 after acquiring an additional 10,152 shares during the period. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Stock Up 1.8%

Shares of Turning Point Brands stock traded up $1.34 on Thursday, reaching $74.36. 384,328 shares of the company were exchanged, compared to its average volume of 187,816. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 32.61 and a beta of 0.76. The company has a current ratio of 4.42, a quick ratio of 2.64 and a debt-to-equity ratio of 1.44. Turning Point Brands, Inc. has a one year low of $31.45 and a one year high of $81.25. The company has a 50-day moving average of $70.24 and a 200 day moving average of $64.11.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. Turning Point Brands had a net margin of 10.19% and a return on equity of 27.70%. The business had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. During the same period in the previous year, the company earned $0.63 earnings per share. The firm's revenue for the quarter was up 28.2% on a year-over-year basis. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.30 annualized dividend and a dividend yield of 0.40%. Turning Point Brands's dividend payout ratio is presently 13.16%.

Analysts Set New Price Targets

TPB has been the topic of a number of research analyst reports. Wall Street Zen raised Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They set a "buy" rating and a $80.00 target price on the stock. Oppenheimer lifted their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a report on Thursday, March 6th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $76.67.

Insider Activity

In other Turning Point Brands news, Director Stephen Usher sold 600 shares of Turning Point Brands stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $75.25, for a total transaction of $45,150.00. Following the completion of the transaction, the director now directly owns 6,175 shares of the company's stock, valued at $464,668.75. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory H.A. Baxter sold 1,500 shares of the company's stock in a transaction on Friday, May 9th. The shares were 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 owns 40,419 shares in the company, valued at approximately $2,976,455.16. This represents a 3.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,300 shares of company stock valued at $8,666,867. 6.60% of the stock is owned by company insiders.

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.