Jane Street Group LLC Boosts Stake in Turning Point Brands, Inc. (NYSE:TPB)

Jane Street Group LLC raised its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,228 shares of the company’s stock after purchasing an additional 2,637 shares during the quarter. Jane Street Group LLC owned 0.17% of Turning Point Brands worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in Turning Point Brands by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock worth $14,785,000 after acquiring an additional 4,600 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Turning Point Brands by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock worth $9,714,000 after purchasing an additional 52,800 shares during the period. Aristides Capital LLC grew its holdings in Turning Point Brands by 6.3% during the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after buying an additional 12,041 shares in the last quarter. Harspring Capital Management LLC increased its holdings in Turning Point Brands by 13.4% during the 2nd quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock worth $5,824,000 after acquiring an additional 21,500 shares during the period. Finally, Millennium Management LLC boosted its stake in Turning Point Brands by 14.1% during the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after buying an additional 22,035 shares during the period. 96.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TPB has been the topic of a number of research reports. Roth Mkm restated a “buy” rating and set a $70.00 price target (up previously from $55.00) on shares of Turning Point Brands in a research report on Tuesday, December 17th. Craig Hallum lifted their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. StockNews.com cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Thursday. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, Benchmark upped their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Turning Point Brands currently has an average rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Price Performance

Shares of TPB opened at $59.84 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The firm’s 50-day simple moving average is $56.54 and its two-hundred day simple moving average is $44.40. Turning Point Brands, Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $66.18. The stock has a market cap of $1.06 billion, a PE ratio of 23.75 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. Analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s payout ratio is presently 11.11%.

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.