Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by Quest Partners LLC

Quest Partners LLC cut its stake in Turning Point Brands, Inc. (NYSE:TPB) by 64.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,641 shares of the company’s stock after selling 4,833 shares during the period. Quest Partners LLC’s holdings in Turning Point Brands were worth $114,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in Turning Point Brands during the first quarter valued at approximately $48,000. Copeland Capital Management LLC acquired a new position in Turning Point Brands during the third quarter valued at approximately $61,000. SG Americas Securities LLC acquired a new position in Turning Point Brands during the second quarter valued at approximately $129,000. The Manufacturers Life Insurance Company acquired a new position in Turning Point Brands during the second quarter valued at approximately $209,000. Finally, Magnetar Financial LLC acquired a new position in Turning Point Brands during the second quarter valued at approximately $212,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

Shares of NYSE TPB opened at $61.90 on Friday. Turning Point Brands, Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $63.51. The business has a 50 day moving average price of $49.03 and a two-hundred day moving average price of $40.41. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm has a market cap of $1.10 billion, a PE ratio of 24.56 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. During the same quarter last year, the firm earned $0.69 EPS. Turning Point Brands’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts expect that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders 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 yield of 0.45%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio is presently 11.11%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TPB shares. Roth Mkm started coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price target on the stock. Oppenheimer assumed coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price on the stock. StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, Benchmark raised their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Turning Point Brands presently has an average rating of “Buy” and an average price target of $60.00.

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.