Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by Algert Global LLC

Algert Global LLC cut its position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,914 shares of the company's stock after selling 32,163 shares during the quarter. Algert Global LLC owned approximately 0.47% of Turning Point Brands worth $4,983,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. USA Financial Formulas bought a new stake in shares of Turning Point Brands in the 4th quarter worth about $73,000. Tower Research Capital LLC TRC lifted 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 worth $142,000 after purchasing an additional 532 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in Turning Point Brands during the 4th quarter valued at approximately $212,000. Entropy Technologies LP bought a new position in Turning Point Brands during the 4th quarter worth $234,000. Finally, AlphaQuest LLC increased its position in Turning Point Brands by 56.4% in the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock worth $248,000 after buying an additional 1,490 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Stock Performance

NYSE TPB traded down $0.55 during trading on Friday, reaching $75.11. The company's stock had a trading volume of 333,849 shares, compared to its average volume of 165,656. Turning Point Brands, Inc. has a 12 month low of $30.61 and a 12 month high of $81.05. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 29.81 and a beta of 0.69. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The firm has a 50 day moving average price of $59.99 and a 200 day moving average price of $60.06.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. During the same period last year, the firm posted $0.63 earnings per share. The business's revenue for the quarter was up 28.2% on a year-over-year basis. As a group, equities analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 20th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.40%. Turning Point Brands's payout ratio is presently 14.15%.

Insiders Place Their Bets

In other news, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $75.75, for a total transaction of $265,125.00. Following the completion of the sale, the chief accounting officer now owns 10,171 shares in the company, valued at approximately $770,453.25. This trade represents a 25.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory H.A. Baxter sold 1,500 shares of the 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 sale, the director now owns 40,419 shares of the company's stock, valued at approximately $2,976,455.16. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TPB. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a research note on Thursday, March 6th. Alliance Global Partners started 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. StockNews.com downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Oppenheimer raised their price target on Turning Point Brands from $65.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Turning Point Brands presently has a consensus rating of "Buy" and an average target price of $76.67.

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.