3,500 Shares in Turning Point Brands, Inc. (NYSE:TPB) Acquired by Prescott General Partners LLC

Prescott General Partners LLC purchased a new stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,500 shares of the company's stock, valued at approximately $210,000. Turning Point Brands accounts for 0.0% of Prescott General Partners LLC's portfolio, making the stock its 8th largest position.

A number of other large investors have also added to or reduced their stakes in TPB. JPMorgan Chase & Co. increased its holdings in shares of Turning Point Brands by 84.5% in the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock valued at $5,311,000 after purchasing an additional 56,364 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Turning Point Brands during the 4th quarter worth about $73,000. Linden Thomas Advisory Services LLC grew its stake in Turning Point Brands by 22.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 26,757 shares of the company's stock valued at $1,608,000 after buying an additional 4,967 shares during the last quarter. Entropy Technologies LP bought a new position in Turning Point Brands in the 4th quarter valued at about $234,000. Finally, Legato Capital Management LLC bought a new position in Turning Point Brands in the 4th quarter valued at about $278,000. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Price Performance

Shares of TPB traded up $0.30 during trading hours on Tuesday, hitting $73.68. 55,890 shares of the company were exchanged, compared to its average volume of 217,708. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. Turning Point Brands, Inc. has a fifty-two week low of $30.61 and a fifty-two week high of $81.05. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 29.24 and a beta of 0.69. The firm's fifty day moving average is $61.25 and its 200 day moving average is $61.19.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. During the same period in the prior year, the company posted $0.63 earnings per share. The business's revenue for the quarter was up 28.2% on a year-over-year basis. On average, equities analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 20th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a yield of 0.41%. Turning Point Brands's dividend payout ratio (DPR) is 13.16%.

Analyst Ratings Changes

Several research firms have recently commented on TPB. StockNews.com raised Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a report on Thursday, March 6th. Oppenheimer increased their price objective on Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They issued a "buy" rating and a $80.00 target price for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $76.67.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 3,500 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $75.75, for a total value of $265,125.00. Following the sale, the chief accounting officer now owns 10,171 shares of the company's stock, valued at approximately $770,453.25. This trade represents a 25.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory H.A. Baxter sold 1,500 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $73.64, for a total value of $110,460.00. Following the transaction, the director now directly 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. Company insiders own 6.60% of the company's stock.

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.