Squarepoint Ops LLC Acquires 24,787 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Squarepoint Ops LLC raised its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 65.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,663 shares of the company's stock after buying an additional 24,787 shares during the quarter. Squarepoint Ops LLC owned about 0.35% of Turning Point Brands worth $3,766,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in Turning Point Brands by 29.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after acquiring an additional 532 shares during the period. Baird Financial Group Inc. bought a new stake in shares of Turning Point Brands during the 4th quarter valued at $201,000. Prescott General Partners LLC bought a new stake in shares of Turning Point Brands during the 4th quarter valued at $210,000. Levin Capital Strategies L.P. bought a new stake in shares of Turning Point Brands during the 4th quarter valued at $212,000. Finally, Entropy Technologies LP bought a new stake in shares of Turning Point Brands during the 4th quarter valued at $234,000. 96.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Turning Point Brands

In related news, CAO Brian Wigginton sold 3,500 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 10,171 shares of the company's stock, valued at approximately $770,453.25. This trade represents a 25.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory H.A. Baxter sold 1,500 shares of the 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 transaction, the director now directly owns 40,419 shares in the company, valued at approximately $2,976,455.16. This represents a 3.58% 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 have recently weighed in on TPB. Oppenheimer upped their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen upgraded Turning Point Brands from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Alliance Global Partners assumed coverage on Turning Point Brands in a research note on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price on the stock. Finally, Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research report on Thursday, March 6th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $76.67.

Turning Point Brands Price Performance

TPB traded up $1.27 during trading on Thursday, reaching $72.80. The stock had a trading volume of 170,443 shares, compared to its average volume of 170,761. The stock has a market cap of $1.30 billion, a PE ratio of 28.89 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. Turning Point Brands, Inc. has a one year low of $30.61 and a one year high of $81.05. The business has a 50-day moving average of $63.37 and a 200-day moving average of $62.15.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.75 by $0.16. The firm had revenue of $106.44 million for the quarter, compared to analyst estimates 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 was up 28.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 EPS. As a group, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be given 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 of this dividend is Friday, June 20th. Turning Point Brands's payout ratio is currently 13.16%.

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.