Assenagon Asset Management S.A. Purchases 323,157 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Assenagon Asset Management S.A. raised its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 162.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 521,980 shares of the company's stock after acquiring an additional 323,157 shares during the period. Assenagon Asset Management S.A. owned about 2.97% of Turning Point Brands worth $13,739,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Foundry Partners LLC boosted its stake in Turning Point Brands by 11.6% in the 3rd quarter. Foundry Partners LLC now owns 189,475 shares of the company's stock worth $4,375,000 after purchasing an additional 19,735 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Turning Point Brands during the fourth quarter worth about $422,000. American Century Companies Inc. raised its position in Turning Point Brands by 6.1% in the 3rd quarter. American Century Companies Inc. now owns 886,524 shares of the company's stock valued at $20,470,000 after buying an additional 51,131 shares during the last quarter. Strategic Income Management LLC bought a new stake in Turning Point Brands in the 3rd quarter valued at approximately $809,000. Finally, Citigroup Inc. boosted its position in Turning Point Brands by 40.8% during the 3rd quarter. Citigroup Inc. now owns 22,126 shares of the company's stock worth $511,000 after acquiring an additional 6,410 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company's stock.

Turning Point Brands Stock Up 0.2 %

Shares of TPB traded up $0.06 during mid-day trading on Friday, hitting $29.30. 106,806 shares of the company's stock were exchanged, compared to its average volume of 149,165. The company has a 50-day simple moving average of $25.55 and a 200 day simple moving average of $24.17. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.67 and a quick ratio of 1.68. The company has a market cap of $518.02 million, a PE ratio of 14.29 and a beta of 0.47. Turning Point Brands, Inc. has a 52 week low of $19.67 and a 52 week high of $29.86.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.72 EPS for the quarter. The firm had revenue of $97.10 million for the quarter, compared to analysts' expectations of $90.11 million. Turning Point Brands had a net margin of 9.49% and a return on equity of 38.62%. The company's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be given a dividend of $0.07 per share. This is a positive change from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $0.28 annualized dividend and a dividend yield of 0.96%. Turning Point Brands's payout ratio is 13.66%.

Insiders Place Their Bets

In other news, insider Plano Lorenzo De purchased 15,043 shares of the business's stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $27.97 per share, for a total transaction of $420,752.71. Following the completion of the purchase, the insider now directly owns 31,375 shares in the company, valued at approximately $877,558.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.20% 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.