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.
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.
TRADEMARK VIOLATION NOTICE: “32,781 Shares in Turning Point Brands Inc (TPB) Purchased by SG Americas Securities LLC” was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://www.com-unik.info/2018/12/07/32781-shares-in-turning-point-brands-inc-tpb-purchased-by-sg-americas-securities-llc.html.
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
Receive News & Ratings for Turning Point Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Brands and related companies with MarketBeat.com's FREE daily email newsletter.