GSA Capital Partners LLP Acquires New Position in Turning Point Brands, Inc. (NYSE:TPB)

GSA Capital Partners LLP acquired a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 54,177 shares of the company’s stock, valued at approximately $1,587,000. GSA Capital Partners LLP owned 0.31% of Turning Point Brands as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Turning Point Brands by 4.4% during the third quarter. Vanguard Group Inc. now owns 1,314,680 shares of the company’s stock valued at $30,356,000 after buying an additional 55,829 shares during the period. American Century Companies Inc. lifted its stake in shares of Turning Point Brands by 6.1% during the third quarter. American Century Companies Inc. now owns 886,524 shares of the company’s stock valued at $20,470,000 after buying an additional 51,131 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Turning Point Brands by 162.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 521,980 shares of the company’s stock valued at $13,739,000 after buying an additional 323,157 shares during the period. Foundry Partners LLC lifted its stake in shares of Turning Point Brands by 15.9% during the fourth quarter. Foundry Partners LLC now owns 219,574 shares of the company’s stock valued at $5,779,000 after buying an additional 30,099 shares during the period. Finally, Access Investment Management LLC purchased a new position in shares of Turning Point Brands during the fourth quarter valued at approximately $3,383,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Insider Activity

In other Turning Point Brands news, CRO Summer Frein bought 2,260 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $30.96 per share, with a total value of $69,969.60. Following the purchase, the executive now owns 17,203 shares in the company, valued at approximately $532,604.88. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Turning Point Brands news, insider Plano Lorenzo De bought 4,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average price of $31.80 per share, with a total value of $127,200.00. Following the purchase, the insider now owns 34,896 shares in the company, valued at approximately $1,109,692.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Summer Frein bought 2,260 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was acquired at an average cost of $30.96 per share, for a total transaction of $69,969.60. Following the purchase, the executive now owns 17,203 shares in the company, valued at approximately $532,604.88. The disclosure for this purchase can be found here. Insiders own 5.80% of the company’s stock.

Turning Point Brands Trading Up 2.1 %

NYSE:TPB traded up $0.71 during trading hours on Wednesday, reaching $35.28. 37,786 shares of the company were exchanged, compared to its average volume of 110,186. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.55 and a quick ratio of 1.59. The firm has a market cap of $621.63 million, a price-to-earnings ratio of 15.41 and a beta of 0.62. Turning Point Brands, Inc. has a 52-week low of $19.67 and a 52-week high of $35.33. The stock has a 50 day simple moving average of $32.57 and a 200 day simple moving average of $28.34.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.72 earnings per share for the quarter. The company had revenue of $97.06 million for the quarter. Turning Point Brands had a net margin of 10.68% and a return on equity of 37.62%.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Friday, June 14th. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 17th. Benchmark reaffirmed a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a research note on Wednesday, June 5th.

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.