Squarepoint Ops LLC Increases Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

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

Several other institutional investors have also recently made changes to their positions in TPB. Northern Right Capital Management L.P. raised its holdings in shares of Turning Point Brands by 356.6% during the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock valued at $8,075,000 after purchasing an additional 104,931 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Turning Point Brands by 36.1% during 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 during the period. Invesco Ltd. raised its holdings in shares of Turning Point Brands by 205.8% during the fourth quarter. Invesco Ltd. now owns 97,261 shares of the company's stock valued at $5,845,000 after purchasing an additional 65,457 shares during the period. Portolan Capital Management LLC acquired a new position in shares of Turning Point Brands during the fourth quarter valued at about $3,817,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Turning Point Brands by 40.2% during 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 during the period. Institutional investors and hedge funds own 96.12% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 1,500 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $73.64, for a total value of $110,460.00. Following the completion of the sale, the director now owns 40,419 shares of the company's stock, valued at approximately $2,976,455.16. This represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Brian Wigginton sold 3,500 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $75.75, for a total transaction of $265,125.00. Following the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders own 6.60% of the company's stock.

Turning Point Brands Stock Performance

Turning Point Brands stock traded up $1.75 during midday trading on Friday, reaching $74.43. 220,028 shares of the company traded hands, compared to its average volume of 172,249. Turning Point Brands, Inc. has a 12 month low of $30.61 and a 12 month high of $81.05. The business has a 50 day moving average of $63.96 and a two-hundred day moving average of $62.47. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 29.54 and a beta of 0.69. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. The firm had revenue of $106.44 million during the quarter, compared to analysts' expectations of $95.75 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company's revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, research analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 20th will be issued a dividend of $0.075 per share. The ex-dividend date is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a yield of 0.40%. Turning Point Brands's payout ratio is 13.16%.

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.