Tidal Investments LLC Decreases Stake in Turning Point Brands, Inc. (NYSE:TPB)

Tidal Investments LLC reduced its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 25.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,280 shares of the company's stock after selling 13,122 shares during the period. Tidal Investments LLC owned about 0.22% of Turning Point Brands worth $2,301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TPB. Tower Research Capital LLC TRC boosted its holdings in Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock worth $142,000 after buying an additional 532 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Turning Point Brands during the 4th quarter worth about $201,000. Prescott General Partners LLC purchased a new stake in shares of Turning Point Brands during the 4th quarter worth about $210,000. Levin Capital Strategies L.P. acquired a new stake in shares of Turning Point Brands during the 4th quarter valued at about $212,000. Finally, Entropy Technologies LP purchased a new position in shares of Turning Point Brands in the 4th quarter valued at about $234,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 1,500 shares of the business's stock in a transaction on 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 transaction, the director now owns 40,419 shares in the company, valued at $2,976,455.16. The trade was a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Brian Wigginton sold 3,500 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $75.75, for a total value of $265,125.00. Following the sale, the chief accounting officer now directly owns 10,171 shares in the company, valued at $770,453.25. This 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 Trading Up 0.2%

Turning Point Brands stock traded up $0.17 during trading on Tuesday, hitting $73.54. The company had a trading volume of 53,717 shares, compared to its average volume of 169,870. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 29.17 and a beta of 0.69. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. Turning Point Brands, Inc. has a 1-year low of $30.61 and a 1-year high of $81.05. The company's 50 day simple moving average is $62.79 and its 200-day simple moving average is $62.01.

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

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.41%. The ex-dividend date is Friday, June 20th. Turning Point Brands's dividend 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.