SG Capital Management LLC Takes $3.30 Million Position in Turning Point Brands, Inc. $TPB

SG Capital Management LLC purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB) during the second quarter, Holdings Channel.com reports. The fund purchased 43,570 shares of the company’s stock, valued at approximately $3,301,000.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Turning Point Brands by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock worth $25,000 after buying an additional 156 shares in the last quarter. Martingale Asset Management L P grew its holdings in shares of Turning Point Brands by 0.6% in the first quarter. Martingale Asset Management L P now owns 26,370 shares of the company’s stock valued at $1,567,000 after acquiring an additional 162 shares in the last quarter. Arizona State Retirement System increased its position in shares of Turning Point Brands by 4.1% during the first quarter. Arizona State Retirement System now owns 5,083 shares of the company’s stock valued at $302,000 after acquiring an additional 199 shares during the last quarter. Briaud Financial Planning Inc bought a new stake in Turning Point Brands during the second quarter worth $31,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in Turning Point Brands by 12.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,004 shares of the company’s stock worth $303,000 after purchasing an additional 432 shares during the last quarter. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Trading Up 3.3%

Shares of Turning Point Brands stock opened at $101.18 on Friday. The stock has a market capitalization of $1.93 billion, a P/E ratio of 35.63 and a beta of 0.85. Turning Point Brands, Inc. has a 52-week low of $51.48 and a 52-week high of $110.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56. The stock’s 50-day simple moving average is $95.18 and its 200 day simple moving average is $85.37.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.46. The firm had revenue of $118.98 million during the quarter, compared to the consensus estimate of $111.42 million. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $0.68 earnings per share. As a group, research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be given a $0.075 dividend. The ex-dividend date is Friday, December 19th. This represents a $0.30 annualized dividend and a dividend yield of 0.3%. Turning Point Brands’s payout ratio is 10.56%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TPB shares. Alliance Global Partners raised their target price on Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Oppenheimer set a $110.00 price objective on shares of Turning Point Brands and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Turning Point Brands in a research report on Thursday, October 30th. Zacks Research raised shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Needham & Company LLC assumed coverage on shares of Turning Point Brands in a research note on Friday, August 1st. They set a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $95.00.

Insider Activity

In related news, Director Lawrence Wexler sold 10,401 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $99.03, for a total transaction of $1,030,011.03. Following the sale, the director directly owned 280,368 shares in the company, valued at approximately $27,764,843.04. The trade was a 3.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 46,470 shares of company stock worth $4,635,682. Insiders own 6.60% of the company’s stock.

About Turning Point Brands

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.