Turning Point Brands, Inc. $TPB Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 59.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,260 shares of the company’s stock after buying an additional 8,316 shares during the period. Quantinno Capital Management LP’s holdings in Turning Point Brands were worth $1,932,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Turning Point Brands by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock valued at $606,000 after buying an additional 459 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Turning Point Brands by 1,428.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company’s stock worth $347,000 after acquiring an additional 4,286 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Turning Point Brands by 150.8% during the 2nd quarter. First Trust Advisors LP now owns 141,995 shares of the company’s stock worth $10,759,000 after acquiring an additional 85,378 shares in the last quarter. Baird Financial Group Inc. acquired a new position in shares of Turning Point Brands in the 2nd quarter worth $220,000. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Turning Point Brands by 21.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company’s stock worth $13,852,000 after acquiring an additional 32,109 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings downgraded Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Friday, May 8th. Compass Point set a $116.00 price objective on Turning Point Brands in a report on Monday. BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a research note on Monday. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Turning Point Brands has an average rating of “Moderate Buy” and an average target price of $115.67.

Turning Point Brands Trading Down 1.8%

NYSE TPB opened at $87.77 on Wednesday. The firm’s 50 day moving average price is $82.63 and its two-hundred day moving average price is $92.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. Turning Point Brands, Inc. has a twelve month low of $65.80 and a twelve month high of $146.90. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 37.67 and a beta of 0.92.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Turning Point Brands’s payout ratio is currently 13.73%.

Turning Point Brands Profile

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.