Jacobs Levy Equity Management Inc. Makes New Investment in Turning Point Brands, Inc. (NYSE:TPB)

Jacobs Levy Equity Management Inc. purchased a new position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 23,396 shares of the company's stock, valued at approximately $1,406,000. Jacobs Levy Equity Management Inc. owned about 0.13% of Turning Point Brands at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TPB. USA Financial Formulas purchased a new position in Turning Point Brands during the fourth quarter valued at approximately $73,000. Tower Research Capital LLC TRC increased its holdings in shares of Turning Point Brands by 29.0% during 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. purchased a new stake in Turning Point Brands during the fourth quarter worth $201,000. Levin Capital Strategies L.P. purchased a new stake in Turning Point Brands during the fourth quarter worth $212,000. Finally, Entropy Technologies LP purchased a new position in Turning Point Brands in the fourth quarter valued at $234,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com upgraded Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Alliance Global Partners started coverage on Turning Point Brands in a research report on Monday, March 3rd. They issued a "buy" rating and a $80.00 price objective for the company. Oppenheimer increased their target price 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, Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a report on Thursday, March 6th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $76.67.

Insider Buying and Selling at Turning Point Brands

In other news, CAO Brian Wigginton sold 3,500 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $75.75, for a total value of $265,125.00. Following the sale, the chief accounting officer now directly owns 10,171 shares of the company's stock, valued at approximately $770,453.25. The trade was a 25.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory H.A. Baxter sold 1,500 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $73.64, for a total value of $110,460.00. Following the completion of the sale, the director now directly owns 40,419 shares in the company, valued at approximately $2,976,455.16. The trade was a 3.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.60% of the company's stock.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock traded down $0.02 on Tuesday, hitting $73.36. 184,515 shares of the company were exchanged, compared to its average volume of 168,254. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The company has a 50-day moving average price of $61.25 and a 200 day moving average price of $61.19. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 29.11 and a beta of 0.69. Turning Point Brands, Inc. has a 1-year low of $30.61 and a 1-year high of $81.05.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.75 by $0.16. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The business had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. During the same quarter in the previous year, the firm earned $0.63 EPS. The company's quarterly revenue was up 28.2% compared to the same quarter last year. As a group, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, June 20th. This represents a $0.30 annualized dividend and a yield of 0.41%. Turning Point Brands's dividend payout ratio (DPR) is 13.16%.

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.