Jane Street Group LLC Boosts Stake in Turning Point Brands, Inc. (NYSE:TPB)

Jane Street Group LLC increased its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 9.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 29,228 shares of the company’s stock after buying an additional 2,637 shares during the period. Jane Street Group LLC’s holdings in Turning Point Brands were worth $1,261,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TPB. Copeland Capital Management LLC purchased a new position in shares of Turning Point Brands during the 3rd quarter worth about $61,000. The Manufacturers Life Insurance Company purchased a new stake in Turning Point Brands in the second quarter worth $209,000. Magnetar Financial LLC purchased a new stake in Turning Point Brands in the 2nd quarter valued at about $212,000. Aigen Investment Management LP bought a new position in Turning Point Brands in the 3rd quarter worth about $221,000. Finally, Moran Wealth Management LLC purchased a new position in shares of Turning Point Brands during the third quarter worth approximately $236,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TPB. StockNews.com downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a report on Thursday. Benchmark boosted their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Oppenheimer started coverage on 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. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Roth Mkm restated a “buy” rating and issued a $70.00 target price (up from $55.00) on shares of Turning Point Brands in a research note on Tuesday, December 17th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $68.75.

Turning Point Brands Price Performance

NYSE TPB opened at $59.84 on Friday. The stock’s fifty day moving average price is $56.54 and its 200 day moving average price is $44.40. 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 company has a market cap of $1.06 billion, a price-to-earnings ratio of 23.75 and a beta of 0.66. Turning Point Brands, Inc. has a 1 year low of $21.98 and a 1 year high of $66.18.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $100.71 million. During the same quarter in the previous year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a $0.07 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a yield of 0.47%. Turning Point Brands’s payout ratio is 11.11%.

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.