Aristides Capital LLC Raises Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Aristides Capital LLC raised its position in Turning Point Brands, Inc. (NYSE:TPB) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,984 shares of the company’s stock after purchasing an additional 12,041 shares during the quarter. Turning Point Brands accounts for approximately 1.8% of Aristides Capital LLC’s holdings, making the stock its 7th biggest holding. Aristides Capital LLC owned approximately 1.15% of Turning Point Brands worth $6,514,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TPB. Algert Global LLC grew its position in Turning Point Brands by 3.9% in the 2nd quarter. Algert Global LLC now owns 115,970 shares of the company’s stock valued at $3,721,000 after acquiring an additional 4,388 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Turning Point Brands in the second quarter worth about $209,000. Millennium Management LLC increased its stake in Turning Point Brands by 14.1% in the 2nd quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock worth $5,724,000 after buying an additional 22,035 shares during the period. AQR Capital Management LLC increased its stake in Turning Point Brands by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 40,867 shares of the company’s stock worth $1,311,000 after buying an additional 10,033 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Turning Point Brands by 0.3% during the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock valued at $3,849,000 after buying an additional 367 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Price Performance

NYSE TPB opened at $43.15 on Tuesday. The company has a market cap of $760.30 million, a PE ratio of 19.01 and a beta of 0.62. Turning Point Brands, Inc. has a 52-week low of $19.67 and a 52-week high of $43.25. 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 firm’s 50 day moving average price is $38.97 and its 200-day moving average price is $34.01.

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

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a $0.07 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.65%. Turning Point Brands’s dividend payout ratio is presently 12.33%.

Insider Buying and Selling at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the transaction, the director now owns 46,544 shares of the company’s stock, valued at approximately $1,834,764.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TPB. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research note on Thursday, September 19th. Roth Mkm assumed coverage on Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective on the stock. Benchmark reiterated a “buy” rating and issued a $45.00 target price on shares of Turning Point Brands in a report on Friday, August 2nd. Finally, StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note 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.