SG Americas Securities LLC Acquires 3,438 Shares of Turning Point Brands, Inc. (NYSE:TPB)

SG Americas Securities LLC grew its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 69.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,413 shares of the company's stock after acquiring an additional 3,438 shares during the period. SG Americas Securities LLC's holdings in Turning Point Brands were worth $500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Turning Point Brands by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company's stock valued at $91,631,000 after purchasing an additional 18,440 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings 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 valued at $19,145,000 after purchasing an additional 84,552 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Turning Point Brands by 1.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 243,691 shares of the company's stock valued at $14,646,000 after purchasing an additional 2,667 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Turning Point Brands by 40.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock valued at $12,243,000 after purchasing an additional 58,425 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Turning Point Brands by 21.2% in the fourth quarter. Nuveen Asset Management LLC now owns 189,083 shares of the company's stock valued at $11,364,000 after purchasing an additional 33,080 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company's stock.

Analyst Ratings Changes

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

Turning Point Brands Stock Up 0.9%

Turning Point Brands stock traded up $0.70 during mid-day trading on Tuesday, hitting $75.69. 170,524 shares of the company's stock were exchanged, compared to its average volume of 185,859. The company has a current ratio of 4.42, a quick ratio of 2.64 and a debt-to-equity ratio of 1.44. The stock has a market cap of $1.35 billion, a P/E ratio of 33.20 and a beta of 0.76. Turning Point Brands, Inc. has a 1-year low of $31.45 and a 1-year high of $81.25. The stock has a 50 day moving average of $69.92 and a two-hundred day moving average of $64.05.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 27.70% and a net margin of 10.19%. The firm's revenue was up 28.2% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. As a group, analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Friday, June 20th. Turning Point Brands's dividend payout ratio is currently 13.16%.

Insider Activity

In related news, SVP Brittani Cushman sold 7,500 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $74.36, for a total value of $557,700.00. Following the completion of the sale, the senior vice president now owns 34,687 shares in the company, valued at approximately $2,579,325.32. This trade represents a 17.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian Wigginton sold 3,500 shares of the stock in a transaction dated 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 owns 10,171 shares of the company's stock, valued at approximately $770,453.25. The trade was a 25.60% decrease in their position. The disclosure for this sale can be found here. Over 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 insiders.

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.