GAMMA Investing LLC Buys 10,152 Shares of Turning Point Brands, Inc. (NYSE:TPB)

GAMMA Investing LLC raised its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 14,100.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,224 shares of the company’s stock after acquiring an additional 10,152 shares during the quarter. GAMMA Investing LLC’s holdings in Turning Point Brands were worth $608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of TPB. Principal Financial Group Inc. boosted its position in Turning Point Brands by 7.1% during the fourth quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock valued at $436,000 after purchasing an additional 482 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of Turning Point Brands in the fourth quarter worth about $368,000. Access Investment Management LLC raised its stake in shares of Turning Point Brands by 0.4% in the fourth quarter. Access Investment Management LLC now owns 122,125 shares of the company’s stock worth $7,340,000 after purchasing an additional 540 shares during the last quarter. Levin Capital Strategies L.P. purchased a new position in Turning Point Brands during the fourth quarter valued at approximately $212,000. Finally, Charles Schwab Investment Management Inc. raised its position in Turning Point Brands by 40.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock valued at $12,243,000 after acquiring an additional 58,425 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on TPB shares. Wall Street Zen upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 price objective on the stock. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research note on Thursday, March 6th. Finally, Oppenheimer boosted their price objective on Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $76.67.

Insiders Place Their Bets

In related news, Director Gregory H.A. Baxter sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $73.64, for a total value of $110,460.00. Following the completion of the sale, the director now owns 40,419 shares of the company’s stock, valued at approximately $2,976,455.16. The trade was a 3.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Brian Wigginton sold 3,500 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $75.75, for a total value of $265,125.00. Following the transaction, the chief accounting officer now owns 10,171 shares in the company, valued at approximately $770,453.25. This trade represents a 25.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,300 shares of company stock valued at $8,666,867 over the last three months. Company insiders own 6.60% of the company’s stock.

Turning Point Brands Price Performance

TPB stock opened at $74.49 on Thursday. Turning Point Brands, Inc. has a 52-week low of $31.45 and a 52-week high of $81.16. The stock’s fifty day simple moving average is $68.14 and its 200-day simple moving average is $63.63. The company has a quick ratio of 2.64, a current ratio of 4.42 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 32.67 and a beta of 0.76.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.16. The firm had revenue of $106.44 million during the quarter, compared to the consensus estimate of $95.75 million. Turning Point Brands had a return on equity of 27.70% and a net margin of 10.19%. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. Equities research analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands’s dividend payout ratio is presently 13.16%.

Turning Point Brands Company 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.