Algert Global LLC Has $3.72 Million Position in Turning Point Brands, Inc. (NYSE:TPB)

Algert Global LLC lifted its stake in Turning Point Brands, Inc. (NYSE:TPB) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,970 shares of the company’s stock after acquiring an additional 4,388 shares during the quarter. Algert Global LLC owned approximately 0.65% of Turning Point Brands worth $3,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of Turning Point Brands in the first quarter worth $48,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Turning Point Brands in the first quarter worth $64,000. SG Americas Securities LLC acquired a new position in shares of Turning Point Brands in the second quarter worth $129,000. The Manufacturers Life Insurance Company acquired a new position in shares of Turning Point Brands in the second quarter worth $209,000. Finally, Magnetar Financial LLC acquired a new position in shares of Turning Point Brands in the second quarter worth $212,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Trading Up 2.0 %

Shares of NYSE:TPB opened at $43.15 on Tuesday. The stock has a market capitalization of $760.30 million, a PE ratio of 19.01 and a beta of 0.62. Turning Point Brands, Inc. has a 1 year low of $19.67 and a 1 year high of $43.25. The firm has a fifty day moving average price of $38.97 and a 200 day moving average price of $34.01. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results 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. Analysts expect that Turning Point Brands, Inc. will post 2.68 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

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 issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, September 13th. Turning Point Brands’s dividend payout ratio (DPR) is 12.33%.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TPB. Benchmark reaffirmed a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a research note on Friday, August 2nd. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Thursday, September 19th. Roth Mkm assumed coverage on shares of Turning Point Brands in a report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, StockNews.com cut shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th.

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.