SG Americas Securities LLC Acquires 6,233 Shares of Turning Point Brands, Inc. (NYSE:TPB)

SG Americas Securities LLC raised its position in Turning Point Brands, Inc. (NYSE:TPB) by 154.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,261 shares of the company’s stock after acquiring an additional 6,233 shares during the quarter. SG Americas Securities LLC owned approximately 0.06% of Turning Point Brands worth $443,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TPB. Federated Hermes Inc. lifted its holdings in Turning Point Brands by 245.9% in the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock valued at $4,965,000 after acquiring an additional 109,983 shares during the period. Vanguard Group Inc. lifted its holdings in Turning Point Brands by 6.6% in the first 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 period. Lord Abbett & CO. LLC increased its position in Turning Point Brands by 45.2% in 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 in the last quarter. Tidal Investments LLC purchased a new stake in Turning Point Brands in the first quarter worth about $1,661,000. Finally, GSA Capital Partners LLP purchased a new stake in Turning Point Brands in the first quarter worth about $1,587,000. Institutional investors own 96.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on TPB shares. Roth Mkm started coverage on Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target for the company. Benchmark restated a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a research report on Friday, August 2nd. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, StockNews.com upgraded Turning Point Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

Turning Point Brands Stock Performance

NYSE:TPB opened at $43.57 on Thursday. 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, Inc. has a 12-month low of $19.67 and a 12-month high of $43.82. The stock has a 50-day moving average price of $40.22 and a 200 day moving average price of $35.19. The stock has a market capitalization of $767.79 million, a P/E ratio of 19.19 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The firm had revenue of $108.51 million during the quarter. Equities research analysts forecast that Turning Point Brands, Inc. will post 2.68 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Friday, September 13th. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Insider Buying and Selling

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 owns 46,544 shares in the company, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.20% of the stock is currently owned by company insiders.

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.