Guardian Point Capital LP Acquires New Position in Turning Point Brands, Inc. (NYSE:TPB)

Guardian Point Capital LP acquired a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 50,000 shares of the company's stock, valued at approximately $3,005,000. Turning Point Brands makes up approximately 1.6% of Guardian Point Capital LP's holdings, making the stock its 7th largest position. Guardian Point Capital LP owned approximately 0.28% of Turning Point Brands at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Emmett Investment Management LP purchased a new position in Turning Point Brands in the 4th quarter worth approximately $2,182,000. Deutsche Bank AG increased its holdings in shares of Turning Point Brands by 49.6% in the 4th quarter. Deutsche Bank AG now owns 16,305 shares of the company's stock worth $980,000 after purchasing an additional 5,405 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings 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 valued at $14,646,000 after purchasing an additional 2,667 shares in the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Turning Point Brands during the fourth quarter valued at $201,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Turning Point Brands during the fourth quarter valued at $943,000. Hedge funds and other institutional investors own 96.12% of the company's stock.

Turning Point Brands Stock Performance

Turning Point Brands stock traded up $0.62 during midday trading on Tuesday, hitting $70.59. The stock had a trading volume of 9,205 shares, compared to its average volume of 165,707. Turning Point Brands, Inc. has a 52-week low of $30.61 and a 52-week high of $81.05. The company has a market capitalization of $1.26 billion, a PE ratio of 28.15 and a beta of 0.69. The firm's fifty day moving average is $60.04 and its two-hundred day moving average is $60.32. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

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 for the quarter, beating analysts' consensus estimates of $0.75 by $0.16. The company had revenue of $106.44 million for the quarter, compared to analysts' expectations of $95.75 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. Turning Point Brands's revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS. On average, research analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands's payout ratio is currently 13.16%.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 3,500 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $75.75, for a total transaction of $265,125.00. Following the sale, the chief accounting officer now directly owns 10,171 shares of the company's stock, valued at $770,453.25. The trade was a 25.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the director now owns 40,419 shares of the company's stock, 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. Insiders own 6.60% of the company's stock.

Analysts Set New Price Targets

TPB has been the topic of several research analyst reports. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research note on Thursday, March 6th. Alliance Global Partners began coverage on Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price on the stock. Oppenheimer upped their price target on shares of 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, StockNews.com lowered shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $76.67.

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.