Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd trimmed its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 43.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,468 shares of the company’s stock after selling 6,431 shares during the period. Quadrature Capital Ltd’s holdings in Turning Point Brands were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. AJOVista LLC acquired a new stake in Turning Point Brands in the 4th quarter valued at about $47,000. Quest Partners LLC purchased a new position in Turning Point Brands during the fourth quarter worth approximately $65,000. Tower Research Capital LLC TRC boosted its stake in Turning Point Brands by 571.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,017 shares of the company’s stock worth $106,000 after buying an additional 3,419 shares during the last quarter. Keystone Financial Group purchased a new stake in Turning Point Brands in the 4th quarter valued at $265,000. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter worth $286,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $32.46 on Thursday. The firm has a market cap of $572.01 million, a PE ratio of 14.30 and a beta of 0.61. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.90. Turning Point Brands, Inc. has a 52 week low of $19.67 and a 52 week high of $34.71. The business’s fifty day simple moving average is $31.78 and its 200-day simple moving average is $27.87.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.72 earnings per share (EPS) for the quarter. The business 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, June 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.86%. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Wall Street Analysts Forecast Growth

TPB has been the subject of a number of analyst reports. StockNews.com raised shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, May 17th. Benchmark restated a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a report on Wednesday, June 5th.

Insider Activity at Turning Point Brands

In related news, Director Lawrence Wexler sold 4,695 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $31.57, for a total transaction of $148,221.15. Following the completion of the transaction, the director now directly owns 367,701 shares in the company, valued at approximately $11,608,320.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Plano Lorenzo De acquired 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 completion of the transaction, the insider now owns 34,896 shares of the company’s stock, valued at $1,109,692.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lawrence Wexler sold 4,695 shares of Turning Point Brands stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $31.57, for a total value of $148,221.15. Following the completion of the transaction, the director now owns 367,701 shares of the company’s stock, valued at $11,608,320.57. The disclosure for this sale can be found here. Company insiders own 5.80% 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.