Cubist Systematic Strategies LLC Has $1.83 Million Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Cubist Systematic Strategies LLC decreased its position in Turning Point Brands, Inc. (NYSE:TPB) by 22.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,868 shares of the company’s stock after selling 16,473 shares during the period. Cubist Systematic Strategies LLC’s holdings in Turning Point Brands were worth $1,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TPB. Federated Hermes Inc. grew its holdings in shares of Turning Point Brands by 245.9% in the 2nd quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock valued at $4,965,000 after buying an additional 109,983 shares during the period. Vanguard Group Inc. boosted its stake in Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after purchasing an additional 92,147 shares during the period. Harspring Capital Management LLC acquired a new position in Turning Point Brands in the 4th quarter worth $2,101,000. Lord Abbett & CO. LLC boosted its stake in shares of Turning Point Brands by 45.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after buying an additional 79,489 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of Turning Point Brands during the 1st quarter worth about $1,661,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s 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 sale, the director now owns 46,544 shares in the company, valued at $1,834,764.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.20% of the company’s stock.

Turning Point Brands Stock Performance

NYSE TPB opened at $43.15 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $764.10 million, a price-to-earnings ratio of 19.01 and a beta of 0.62. The firm’s 50 day simple moving average is $38.97 and its 200 day simple moving average is $34.01. Turning Point Brands, Inc. has a 1 year low of $19.67 and a 1 year high of $43.25.

Turning Point Brands (NYSE:TPB) last posted its quarterly 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 net margin of 11.36% and a return on equity of 36.11%. As a group, research analysts expect that Turning Point Brands, Inc. will post 2.68 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a $0.07 dividend. The ex-dividend date of this dividend 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 currently 12.33%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TPB. StockNews.com downgraded shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a report on Thursday, September 19th. Roth Mkm began coverage on shares of Turning Point Brands in a report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Benchmark reissued a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a report on Friday, August 2nd.

About Turning Point Brands

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.