32,781 Shares in Turning Point Brands Inc (TPB) Purchased by SG Americas Securities LLC

SG Americas Securities LLC bought a new position in shares of Turning Point Brands Inc (NYSE:TPB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 32,781 shares of the company’s stock, valued at approximately $1,359,000. SG Americas Securities LLC owned 0.17% of Turning Point Brands at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TPB. Harvest Fund Management Co. Ltd purchased a new stake in shares of Turning Point Brands in the 3rd quarter valued at approximately $109,000. First Quadrant L P CA purchased a new stake in shares of Turning Point Brands in the 3rd quarter valued at approximately $130,000. Stone Ridge Asset Management LLC purchased a new stake in shares of Turning Point Brands in the 3rd quarter valued at approximately $236,000. OppenheimerFunds Inc. purchased a new stake in shares of Turning Point Brands in the 2nd quarter valued at approximately $200,000. Finally, Rhumbline Advisers purchased a new stake in shares of Turning Point Brands in the 2nd quarter valued at approximately $239,000. 30.53% of the stock is currently owned by institutional investors.

Shares of TPB opened at $29.20 on Friday. Turning Point Brands Inc has a fifty-two week low of $17.16 and a fifty-two week high of $47.00. The company has a market cap of $580.61 million, a P/E ratio of 19.16 and a beta of 0.52. The company has a current ratio of 1.75, a quick ratio of 0.36 and a debt-to-equity ratio of 2.45.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Wednesday, November 7th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.05). Turning Point Brands had a return on equity of 48.99% and a net margin of 7.64%. The business had revenue of $83.30 million for the quarter, compared to analysts’ expectations of $84.10 million. During the same period in the previous year, the company earned $0.38 earnings per share. Turning Point Brands’s quarterly revenue was up 13.6% on a year-over-year basis. On average, research analysts forecast that Turning Point Brands Inc will post 1.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Friday, December 21st will be paid a dividend of $0.045 per share. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.04. This represents a $0.18 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, December 20th. Turning Point Brands’s dividend payout ratio is presently 14.81%.

In related news, Director Thomas F. Jr. Helms sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $42.04, for a total transaction of $1,051,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert M. Lavan bought 3,500 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The shares were acquired at an average cost of $29.86 per share, for a total transaction of $104,510.00. Following the completion of the purchase, the chief financial officer now owns 3,500 shares in the company, valued at $104,510. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 36,200 shares of company stock worth $1,490,080. 6.90% of the stock is owned by insiders.

A number of equities research analysts have recently issued reports on the stock. Cowen reissued a “buy” rating on shares of Turning Point Brands in a research note on Friday, August 10th. Zacks Investment Research raised shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Wednesday, November 7th. Finally, B. Riley upped their target price on shares of Turning Point Brands from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, October 8th.

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About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.

See Also: Cost of Capital

Institutional Ownership by Quarter for Turning Point Brands (NYSE:TPB)

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