Two Sigma Investments LP Raises Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Two Sigma Investments LP lifted its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,927 shares of the company's stock after purchasing an additional 6,726 shares during the period. Two Sigma Investments LP owned about 0.62% of Turning Point Brands worth $6,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Turning Point Brands by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company's stock worth $91,631,000 after acquiring an additional 18,440 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position 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 worth $19,145,000 after acquiring an additional 84,552 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Turning Point Brands by 1.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 243,691 shares of the company's stock worth $14,646,000 after acquiring an additional 2,667 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 worth $12,243,000 after acquiring an additional 58,425 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Turning Point Brands by 21.2% during the fourth quarter. Nuveen Asset Management LLC now owns 189,083 shares of the company's stock worth $11,364,000 after acquiring an additional 33,080 shares during the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Price Performance

TPB stock traded up $1.27 during trading on Thursday, hitting $72.80. 170,443 shares of the company's stock traded hands, compared to its average volume of 170,761. Turning Point Brands, Inc. has a 52 week low of $30.61 and a 52 week high of $81.05. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The business has a fifty day simple moving average of $63.37 and a 200 day simple moving average of $62.15. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 28.89 and a beta of 0.69.

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, research 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. Stockholders of record on Friday, June 20th will be issued a $0.075 dividend. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Turning Point Brands news, CAO Brian Wigginton sold 3,500 shares of the firm's 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 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 SEC, which is available at this hyperlink. Also, Director Gregory H.A. Baxter sold 1,500 shares of the firm's 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 transaction, the director now directly owns 40,419 shares in the company, valued at $2,976,455.16. This trade represents a 3.58% decrease in their position. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by insiders.

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.