Versor Investments LP Buys Shares of 4,900 Turning Point Brands, Inc. $TPB

Key Points

• Versor Investments LP has acquired a new stake of 4,900 shares in Turning Point Brands, Inc. valued at approximately $291,000, reflecting growing interest from institutional investors.
• Director Lawrence Wexler sold 25,000 shares of Turning Point Brands, indicating a 7.04% decrease in his position, while the company reported a 25.1% year-over-year increase in revenue for the last quarter.
• Turning Point Brands recently announced a quarterly dividend of $0.075 per share which will be paid out on October 10th, with an annualized dividend yield of 0.3%.

Versor Investments LP purchased a new position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,900 shares of the company's stock, valued at approximately $291,000.

Other hedge funds have also bought and sold shares of the company. Virtus Fund Advisers LLC purchased a new stake in Turning Point Brands in the 4th quarter worth $48,000. Sunbelt Securities Inc. purchased a new stake in Turning Point Brands in the 4th quarter worth $96,000. Tower Research Capital LLC TRC lifted its stake in Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock worth $142,000 after purchasing an additional 532 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in Turning Point Brands in the 4th quarter worth $201,000. Finally, Prescott General Partners LLC purchased a new stake in Turning Point Brands in the 4th quarter worth $210,000. Hedge funds and other institutional investors own 96.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Turning Point Brands from $85.00 to $98.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Zacks Research upgraded shares of Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Needham & Company LLC assumed coverage on shares of Turning Point Brands in a research report on Friday, August 1st. They set a "hold" rating on the stock. Finally, Wall Street Zen cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Turning Point Brands presently has an average rating of "Buy" and a consensus target price of $78.83.

Insiders Place Their Bets

In other news, Director Lawrence Wexler sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $75.94, for a total transaction of $1,898,500.00. Following the transaction, the director directly owned 330,186 shares in the company, valued at approximately $25,074,324.84. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen Usher sold 600 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $75.25, for a total transaction of $45,150.00. Following the transaction, the director owned 6,175 shares in the company, valued at approximately $464,668.75. This represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,300 shares of company stock worth $8,291,282. 6.60% of the stock is owned by company insiders.

Turning Point Brands Trading Down 0.5%

TPB stock traded down $0.46 during mid-day trading on Wednesday, reaching $98.49. The company had a trading volume of 309,749 shares, compared to its average volume of 457,528. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.22 and a quick ratio of 2.67. The company has a market capitalization of $1.77 billion, a PE ratio of 41.21 and a beta of 0.66. The firm has a 50 day moving average of $83.33 and a 200 day moving average of $71.76. Turning Point Brands, Inc. has a 12 month low of $38.08 and a 12 month high of $102.90.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.19. The business had revenue of $116.63 million for the quarter, compared to the consensus estimate of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The company's revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 19th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, September 19th. Turning Point Brands's dividend payout ratio is currently 12.55%.

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.