Y Intercept Hong Kong Ltd Invests $325,000 in Turning Point Brands, Inc. (NYSE:TPB)

Key Points

• Y Intercept Hong Kong Ltd has acquired a new stake in Turning Point Brands, Inc., purchasing 5,461 shares valued at approximately $325,000.
• Institutional investors and hedge funds now own 96.12% of Turning Point Brands' shares, with Northern Right Capital Management increasing its holdings by 356.6%.
• Turning Point Brands declared a quarterly dividend of $0.075 per share, representing an annualized dividend yield of 0.38%.

Y Intercept Hong Kong Ltd purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,461 shares of the company's stock, valued at approximately $325,000.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Turning Point Brands by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,693 shares of the company's stock valued at $819,000 after purchasing an additional 4,797 shares during the period. Teacher Retirement System of Texas increased its holdings in Turning Point Brands by 122.3% during the 1st quarter. Teacher Retirement System of Texas now owns 121,804 shares of the company's stock valued at $7,240,000 after purchasing an additional 67,005 shares during the period. Ameriprise Financial Inc. purchased a new position in Turning Point Brands during the 4th quarter valued at about $957,000. ProShare Advisors LLC purchased a new position in Turning Point Brands during the 4th quarter valued at about $290,000. Finally, Rhumbline Advisers increased its holdings in Turning Point Brands by 1.9% during the 1st quarter. Rhumbline Advisers now owns 24,531 shares of the company's stock valued at $1,458,000 after purchasing an additional 464 shares during the period. Hedge funds and other institutional investors own 96.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Needham & Company LLC assumed coverage on Turning Point Brands in a report on Friday. They set a "hold" rating on the stock. Oppenheimer lifted their price objective on Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen cut Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.67.

Turning Point Brands Stock Down 2.4%

Shares of TPB traded down $1.98 during mid-day trading on Friday, reaching $80.96. The company had a trading volume of 495,470 shares, compared to its average volume of 357,837. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.64 and a current ratio of 4.42. The firm has a 50-day moving average price of $75.64 and a 200 day moving average price of $67.34. Turning Point Brands, Inc. has a 52 week low of $34.78 and a 52 week high of $84.05. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 35.51 and a beta of 0.66.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. Turning Point Brands had a return on equity of 27.70% and a net margin of 10.19%. The firm had revenue of $106.44 million for the quarter, compared to analysts' expectations of $95.75 million. During the same period in the previous year, the firm posted $0.63 EPS. The business's revenue for the quarter was up 28.2% compared to the same quarter last year. On average, sell-side analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 20th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $0.30 annualized dividend and a yield of 0.4%. Turning Point Brands's dividend payout ratio is 13.16%.

Insiders Place Their Bets

In other Turning Point Brands news, Director Lawrence Wexler sold 25,000 shares of the business's stock in a transaction 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 completion of the sale, the director directly owned 330,186 shares in the company, valued at approximately $25,074,324.84. The trade was a 7.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Graham Purdy sold 30,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $75.03, for a total transaction of $2,250,900.00. Following the sale, the chief executive officer owned 227,466 shares of the company's stock, valued at approximately $17,066,773.98. This represents a 11.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,300 shares of company stock worth $8,666,867 in the last three months. Corporate insiders own 6.60% of the company's stock.

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.