272 Capital LP Buys Shares of 34,492 Turning Point Brands, Inc. (NYSE:TPB)

272 Capital LP purchased a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 34,492 shares of the company’s stock, valued at approximately $1,488,000. 272 Capital LP owned 0.19% of Turning Point Brands at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Copeland Capital Management LLC bought a new position in Turning Point Brands in the 3rd quarter valued at about $61,000. SG Americas Securities LLC acquired a new stake in shares of Turning Point Brands in the 2nd quarter worth approximately $129,000. The Manufacturers Life Insurance Company bought a new position in shares of Turning Point Brands in the second quarter valued at approximately $209,000. Magnetar Financial LLC acquired a new position in shares of Turning Point Brands during the second quarter valued at approximately $212,000. Finally, Aigen Investment Management LP acquired a new position in shares of Turning Point Brands during the third quarter valued at approximately $221,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Stock Performance

Shares of NYSE TPB opened at $61.46 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands, Inc. has a one year low of $21.98 and a one year high of $66.18. The business’s 50-day moving average price is $52.72 and its two-hundred day moving average price is $42.24. The company has a market capitalization of $1.09 billion, a P/E ratio of 24.68 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. During the same period in the previous year, the company earned $0.69 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.07 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.46%. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Roth Mkm started coverage on shares of Turning Point Brands in a report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target for the company. Craig Hallum increased their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Benchmark raised their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $63.75.

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.