Tidal Investments LLC Sells 13,122 Shares of Turning Point Brands, Inc. (NYSE:TPB)

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of 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 purchasing 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 purchased a new position in Turning Point Brands during the fourth quarter valued at $234,000. 96.12% of the stock is currently owned by institutional investors.

Insider Transactions at Turning Point Brands

In related news, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands 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 in the company, valued at $770,453.25. This trade represents a 25.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory H.A. Baxter sold 1,500 shares of Turning Point Brands stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $73.64, for a total transaction of $110,460.00. Following the sale, the director now owns 40,419 shares of the company's stock, valued at $2,976,455.16. The trade was 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.

Wall Street Analysts Forecast Growth

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

Turning Point Brands Trading Down 1.4%

Shares of Turning Point Brands stock traded down $1.01 during trading on Wednesday, hitting $72.44. The stock had a trading volume of 16,876 shares, compared to its average volume of 169,720. The firm's fifty day simple moving average is $63.09 and its 200-day simple moving average is $62.08. The stock has a market cap of $1.30 billion, a PE ratio of 28.73 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, Inc. has a 12 month low of $30.61 and a 12 month high of $81.05.

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

Turning Point Brands Dividend Announcement

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