Two Sigma Advisers LP Grows Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Two Sigma Advisers LP lifted its position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 81.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,000 shares of the company's stock after buying an additional 30,900 shares during the quarter. Two Sigma Advisers LP owned approximately 0.39% of Turning Point Brands worth $4,147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TPB. Sei Investments Co. increased its holdings in Turning Point Brands by 0.4% during the fourth quarter. Sei Investments Co. now owns 78,087 shares of the company's stock valued at $4,693,000 after buying an additional 283 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Turning Point Brands by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company's stock worth $585,000 after buying an additional 330 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Turning Point Brands by 7.1% during the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock worth $436,000 after acquiring an additional 482 shares in the last quarter. Tower Research Capital LLC TRC raised its stake 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 worth $142,000 after acquiring an additional 532 shares in the last quarter. Finally, Access Investment Management LLC lifted its position in Turning Point Brands by 0.4% during the fourth quarter. Access Investment Management LLC now owns 122,125 shares of the company's stock valued at $7,340,000 after acquiring an additional 540 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TPB has been the topic of several analyst reports. Wall Street Zen raised 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 objective on Turning Point Brands in a research report on Thursday, March 6th. Alliance Global Partners assumed coverage on Turning Point Brands in a research report on Monday, March 3rd. They set a "buy" rating and a $80.00 target price on the stock. Finally, Oppenheimer increased their price target on 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $76.67.

Insider Transactions at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 1,500 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $73.64, for a total transaction of $110,460.00. Following the sale, the director now directly owns 40,419 shares of the company's stock, valued at $2,976,455.16. This trade represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $75.75, for a total value 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 represents a 25.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.60% of the company's stock.

Turning Point Brands Stock Performance

TPB traded up $0.76 on Friday, reaching $73.44. 28,335 shares of the stock were exchanged, compared to its average volume of 170,582. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The company's 50-day moving average price is $63.37 and its 200 day moving average price is $62.15. The firm has a market capitalization of $1.31 billion, a PE ratio of 29.25 and a beta of 0.69. Turning Point Brands, Inc. has a fifty-two week low of $30.61 and a fifty-two week high of $81.05.

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 the consensus estimate 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 firm had revenue of $106.44 million during the quarter, compared to analysts' expectations of $95.75 million. During the same period last year, the business posted $0.63 earnings per share. The company's revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be paid a $0.075 dividend. The ex-dividend date is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.41%. Turning Point Brands's payout ratio is currently 13.16%.

Turning Point Brands 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.