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 bought a new position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,461 shares of the company's stock, valued at approximately $325,000.

A number of other institutional investors and hedge funds have also modified their holdings of TPB. Virtus Fund Advisers LLC acquired a new stake in Turning Point Brands in the 4th quarter valued at approximately $48,000. Sunbelt Securities Inc. acquired a new position in shares of Turning Point Brands during the fourth quarter worth about $96,000. Tower Research Capital LLC TRC increased its holdings in shares of 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 valued at $142,000 after purchasing an additional 532 shares in the last quarter. Baird Financial Group Inc. acquired a new position in shares of Turning Point Brands during the 4th quarter worth $201,000. Finally, Prescott General Partners LLC purchased a new stake in shares of Turning Point Brands in the fourth quarter valued at $210,000. Hedge funds and other institutional investors own 96.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Oppenheimer boosted their price objective on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen lowered Turning Point Brands from a "buy" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $76.67.

Insider Activity at Turning Point Brands

In other news, CEO Graham Purdy sold 30,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $75.03, for a total value of $2,250,900.00. Following the completion of the sale, the chief executive officer directly owned 227,466 shares in the company, valued at $17,066,773.98. This trade represents a 11.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lawrence Wexler sold 25,000 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $75.94, for a total value of $1,898,500.00. Following the completion of the transaction, the director owned 330,186 shares of the company's stock, valued at $25,074,324.84. This trade represents a 7.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,300 shares of company stock valued at $8,666,867 in the last 90 days. Corporate insiders own 6.60% of the company's stock.

Turning Point Brands Price Performance

Turning Point Brands stock traded up $2.83 during trading hours on Wednesday, hitting $82.51. 460,764 shares of the stock were exchanged, compared to its average volume of 337,400. The stock has a market capitalization of $1.48 billion, a P/E ratio of 36.19 and a beta of 0.75. 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 business's 50-day moving average is $75.08 and its two-hundred day moving average is $66.87. Turning Point Brands, Inc. has a 12 month low of $34.78 and a 12 month high of $82.61.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.16. Turning Point Brands had a net margin of 10.19% and a return on equity of 27.70%. The business had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. During the same quarter last year, the firm earned $0.63 EPS. Turning Point Brands's quarterly revenue was up 28.2% compared to the same quarter last year. Equities research analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Friday, June 20th. Turning Point Brands's payout ratio is presently 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.