GSA Capital Partners LLP bought a new stake in Turning Point Brands, Inc. (NYSE:TPB) in the third quarter, HoldingsChannel.com reports. The firm bought 10,174 shares of the company’s stock, valued at approximately $284,000.

Several other hedge funds have also added to or reduced their stakes in TPB. Point72 Hong Kong Ltd raised its position in shares of Turning Point Brands by 25.2% in the second quarter. Point72 Hong Kong Ltd now owns 1,758 shares of the company’s stock valued at $44,000 after buying an additional 354 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of Turning Point Brands during the 1st quarter valued at $51,000. UBS Group AG acquired a new stake in shares of Turning Point Brands during the 2nd quarter worth $74,000. American International Group Inc. grew its holdings in shares of Turning Point Brands by 7.3% during the 2nd quarter. American International Group Inc. now owns 5,258 shares of the company’s stock worth $131,000 after purchasing an additional 359 shares in the last quarter. Finally, Cambria Investment Management L.P. bought a new position in shares of Turning Point Brands in the second quarter worth $226,000. Institutional investors and hedge funds own 42.01% of the company’s stock.

In related news, major shareholder General L.P. Standard sold 400,000 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $35.60, for a total value of $14,240,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is currently owned by insiders.

TPB has been the topic of a number of analyst reports. TheStreet upgraded shares of Turning Point Brands from a “c” rating to a “b-” rating in a research note on Tuesday, July 28th. Barclays began coverage on shares of Turning Point Brands in a research report on Monday, October 5th. They set an “overweight” rating and a $38.00 price objective for the company. Craig Hallum raised their target price on Turning Point Brands from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Sidoti assumed coverage on Turning Point Brands in a research report on Tuesday, September 15th. They set a “buy” rating for the company. Finally, B. Riley lifted their target price on Turning Point Brands from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $42.60.

Turning Point Brands stock opened at $38.44 on Friday. The stock has a 50-day moving average price of $34.12 and a two-hundred day moving average price of $28.94. Turning Point Brands, Inc. has a 12 month low of $14.09 and a 12 month high of $41.82. The company has a market capitalization of $736.66 million, a PE ratio of 120.13 and a beta of 0.74. The company has a current ratio of 3.11, a quick ratio of 1.66 and a debt-to-equity ratio of 2.55.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Sunday, November 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.17. Turning Point Brands had a net margin of 1.75% and a return on equity of 41.61%. The business had revenue of $104.20 million during the quarter, compared to analyst estimates of $91.74 million. During the same quarter last year, the business earned $0.56 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts predict that Turning Point Brands, Inc. will post 2.47 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Friday, December 18th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Thursday, December 17th. Turning Point Brands’s payout ratio is currently 10.75%.

Turning Point Brands Profile

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products in the United States and Canada. The company operates in three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets loose leaf chewing tobacco and moist snuff tobacco.

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

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