Harspring Capital Management LLC Has $5.82 Million Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Harspring Capital Management LLC boosted its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 13.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 181,500 shares of the company’s stock after purchasing an additional 21,500 shares during the quarter. Turning Point Brands comprises 1.5% of Harspring Capital Management LLC’s holdings, making the stock its 16th biggest position. Harspring Capital Management LLC owned 1.02% of Turning Point Brands worth $5,824,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TPB. GSA Capital Partners LLP acquired a new position in shares of Turning Point Brands in the 1st quarter valued at $1,587,000. Lord Abbett & CO. LLC boosted its holdings in Turning Point Brands by 45.2% during the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after buying an additional 79,489 shares during the last quarter. Boston Partners bought a new position in Turning Point Brands during the first quarter worth about $964,000. Tidal Investments LLC acquired a new position in shares of Turning Point Brands during the 1st quarter worth about $1,661,000. Finally, Vanguard Group Inc. increased its stake in shares of Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after acquiring an additional 92,147 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the transaction, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.20% of the company’s stock.

Turning Point Brands Price Performance

NYSE TPB opened at $41.93 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. The stock has a market cap of $738.89 million, a price-to-earnings ratio of 18.47 and a beta of 0.62. The business has a 50 day simple moving average of $38.43 and a 200 day simple moving average of $33.45. Turning Point Brands, Inc. has a 52-week low of $19.67 and a 52-week high of $42.32.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The company had revenue of $108.51 million during the quarter.

Turning Point Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, September 13th. Turning Point Brands’s dividend payout ratio is 12.33%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Roth Mkm assumed coverage on shares of Turning Point Brands in a research note on Thursday. They set a “buy” rating and a $50.00 price objective on the stock. StockNews.com cut shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Friday. Benchmark restated a “buy” rating and issued a $45.00 price objective on shares of Turning Point Brands in a research report on Friday, August 2nd. Finally, Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Thursday.

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.