Algert Global LLC Buys 4,388 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Algert Global LLC lifted its stake in Turning Point Brands, Inc. (NYSE:TPB) by 3.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 115,970 shares of the company’s stock after acquiring an additional 4,388 shares during the period. Algert Global LLC’s holdings in Turning Point Brands were worth $3,721,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Turning Point Brands in the first quarter valued at about $48,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Turning Point Brands in the first quarter valued at about $64,000. SG Americas Securities LLC bought a new stake in shares of Turning Point Brands in the second quarter valued at about $129,000. The Manufacturers Life Insurance Company bought a new stake in shares of Turning Point Brands in the second quarter valued at about $209,000. Finally, Magnetar Financial LLC bought a new stake in shares of Turning Point Brands in the second quarter valued at about $212,000. Institutional investors own 96.12% of the company’s stock.

Insider Transactions at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the sale, the director now directly owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.20% of the company’s stock.

Turning Point Brands Stock Performance

NYSE TPB opened at $43.15 on Tuesday. The firm has a market cap of $760.30 million, a price-to-earnings ratio of 19.01 and a beta of 0.62. The company has a 50 day moving average of $38.97 and a 200-day moving average of $34.01. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. 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 data on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. The company had revenue of $108.51 million during the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. On average, equities analysts forecast that Turning Point Brands, Inc. will post 2.68 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a research report on Friday, August 2nd. StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Roth Mkm assumed coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Thursday, September 19th.

Turning Point Brands Company 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.