Two Sigma Advisers LP lessened its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,800 shares of the company’s stock after selling 3,200 shares during the quarter. Two Sigma Advisers LP owned approximately 0.31% of Turning Point Brands worth $1,490,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new stake in Turning Point Brands during the 1st quarter worth $26,000. Point72 Hong Kong Ltd boosted its stake in Turning Point Brands by 25.2% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,758 shares of the company’s stock worth $44,000 after purchasing an additional 354 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in Turning Point Brands during the 1st quarter worth $51,000. UBS Group AG acquired a new stake in Turning Point Brands during the 2nd quarter worth $74,000. Finally, American International Group Inc. boosted its stake in Turning Point Brands by 7.3% during the 2nd quarter. American International Group Inc. now owns 5,258 shares of the company’s stock worth $131,000 after purchasing an additional 359 shares during the last quarter. 42.01% of the stock is currently owned by institutional investors.
Shares of TPB opened at $27.16 on Friday. The firm has a market cap of $522.07 million, a P/E ratio of 84.88 and a beta of 0.72. Turning Point Brands, Inc. has a 12-month low of $14.09 and a 12-month high of $34.56. The company’s 50-day moving average price is $29.38 and its 200 day moving average price is $25.51. The company has a current ratio of 3.11, a quick ratio of 1.66 and a debt-to-equity ratio of 2.65.
Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.26. The firm had revenue of $104.96 million for the quarter, compared to analyst estimates of $100.01 million. Turning Point Brands had a net margin of 1.75% and a return on equity of 41.61%. Turning Point Brands’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. Equities research analysts forecast that Turning Point Brands, Inc. will post 2.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be issued a $0.05 dividend. The ex-dividend date is Thursday, September 17th. This represents a $0.20 annualized dividend and a yield of 0.74%. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.75%.
Several research analysts have recently commented on the company. TheStreet upgraded Turning Point Brands from a “c” rating to a “b-” rating in a report on Tuesday, July 28th. ValuEngine lowered Turning Point Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 15th. Sidoti assumed coverage on Turning Point Brands in a report on Tuesday, September 15th. They set a “buy” rating on the stock. Craig Hallum lifted their price target on Turning Point Brands from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Zacks Investment Research lowered Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Turning Point Brands has a consensus rating of “Buy” and a consensus target price of $39.50.
In related news, major shareholder General L.P. Standard sold 2,215,000 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $22.44, for a total value of $49,704,600.00. Following the sale, the insider now directly owns 8,178,918 shares in the company, valued at approximately $183,534,919.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.80% of the stock is currently owned by insiders.
Turning Point Brands Company Profile
Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products in the United States and Canada. The company operates in three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets loose leaf chewing tobacco and moist snuff tobacco.
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