Algert Global LLC Increases Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Algert Global LLC raised its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 265.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,150 shares of the company’s stock after purchasing an additional 12,460 shares during the period. Algert Global LLC owned 0.09% of Turning Point Brands worth $785,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TPB. Royal Bank of Canada raised its stake in Turning Point Brands by 270.6% during the first quarter. Royal Bank of Canada now owns 882 shares of the company’s stock worth $46,000 after purchasing an additional 644 shares during the period. Financial Management Professionals Inc. grew its holdings in Turning Point Brands by 57.5% during the 2nd quarter. Financial Management Professionals Inc. now owns 3,082 shares of the company’s stock valued at $141,000 after purchasing an additional 1,125 shares in the last quarter. Citigroup Inc. grew its holdings in Turning Point Brands by 231.4% during the 2nd quarter. Citigroup Inc. now owns 3,294 shares of the company’s stock valued at $150,000 after purchasing an additional 2,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Turning Point Brands by 63.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,494 shares of the company’s stock valued at $160,000 after purchasing an additional 1,356 shares in the last quarter. Finally, Tudor Investment Corp Et Al acquired a new stake in Turning Point Brands during the 1st quarter valued at $208,000. 84.17% of the stock is currently owned by institutional investors.

NYSE:TPB traded up $0.48 during mid-day trading on Thursday, hitting $48.81. The stock had a trading volume of 310 shares, compared to its average volume of 195,160. The stock has a market capitalization of $923.68 million, a price-to-earnings ratio of 20.57 and a beta of 0.54. The company has a 50 day simple moving average of $48.16 and a 200-day simple moving average of $47.28. Turning Point Brands, Inc. has a 52 week low of $30.35 and a 52 week high of $61.08. The company has a current ratio of 4.70, a quick ratio of 3.09 and a debt-to-equity ratio of 3.11.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Monday, July 26th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.19. The firm had revenue of $122.60 million for the quarter, compared to the consensus estimate of $106.22 million. Turning Point Brands had a net margin of 10.84% and a return on equity of 51.99%. Turning Point Brands’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. As a group, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.85 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 8th. Shareholders of record on Friday, September 17th were paid a dividend of $0.055 per share. The ex-dividend date was Thursday, September 16th. This represents a $0.22 annualized dividend and a yield of 0.45%. Turning Point Brands’s payout ratio is 7.83%.

Several research analysts have weighed in on TPB shares. B. Riley raised their price objective on shares of Turning Point Brands from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Zacks Investment Research downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Thursday, September 30th.

In other Turning Point Brands news, major shareholder General L.P. Standard sold 818,000 shares of the firm’s stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $50.65, for a total transaction of $41,431,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.80% of the stock is currently owned by company insiders.

About Turning Point Brands

Turning Point Brands, Inc provides tobacco products. It operates through following segments: Smokeless products, Smoking products and NewGen products. The Smokeless products segment manufactures and markets moist snuff and contracts for and markets chewing tobacco products. The Smoking products segment imports and markets cigarette papers, tubes, finished cigars, NYO cigar tobaccos and cigar wraps and processes, packages and markets pipe tobaccos.

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Institutional Ownership by Quarter for Turning Point Brands (NYSE:TPB)

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