JPMorgan Chase & Co. Buys 56,364 Shares of Turning Point Brands, Inc. (NYSE:TPB)

JPMorgan Chase & Co. lifted its position in Turning Point Brands, Inc. (NYSE:TPB) by 84.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 123,079 shares of the company’s stock after purchasing an additional 56,364 shares during the period. JPMorgan Chase & Co. owned 0.70% of Turning Point Brands worth $5,311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Copeland Capital Management LLC purchased a new stake in shares of Turning Point Brands in the 3rd quarter worth $61,000. Aigen Investment Management LP bought a new stake in shares of Turning Point Brands in the third quarter valued at about $221,000. Moran Wealth Management LLC purchased a new stake in Turning Point Brands in the third quarter worth about $236,000. The Manufacturers Life Insurance Company bought a new position in Turning Point Brands during the 2nd quarter worth about $209,000. Finally, Magnetar Financial LLC purchased a new position in Turning Point Brands during the 2nd quarter valued at about $212,000. Institutional investors own 96.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TPB shares. StockNews.com cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday. Benchmark increased their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Craig Hallum boosted their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Oppenheimer began coverage on Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Stock Up 0.1 %

Turning Point Brands stock opened at $56.48 on Friday. Turning Point Brands, Inc. has a 1-year low of $21.98 and a 1-year high of $66.18. The business has a fifty day moving average price of $59.52 and a 200-day moving average price of $46.81. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The stock has a market capitalization of $999.53 million, a price-to-earnings ratio of 22.41 and a beta of 0.66.

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

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a yield of 0.50%. Turning Point Brands’s payout ratio is 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.