Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 7,564 Turning Point Brands, Inc. (NYSE:TPB)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the third quarter, Holdings Channel reports. The institutional investor acquired 7,564 shares of the company’s stock, valued at approximately $326,000.

Other institutional investors have also recently modified their holdings of the company. Copeland Capital Management LLC acquired a new position in Turning Point Brands in the 3rd quarter worth approximately $61,000. Lazard Asset Management LLC acquired a new stake in shares of Turning Point Brands in the first quarter worth $48,000. SG Americas Securities LLC purchased a new position in shares of Turning Point Brands during the second quarter worth $129,000. Aigen Investment Management LP acquired a new position in Turning Point Brands during the third quarter valued at $221,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Turning Point Brands in the second quarter valued at $209,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Stock Performance

NYSE TPB opened at $61.90 on Friday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 24.56 and a beta of 0.63. The stock has a 50-day moving average of $49.03 and a 200 day moving average of $40.45. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. Turning Point Brands, Inc. has a twelve month low of $21.98 and a twelve month high of $63.51.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping 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 the consensus estimate of $100.71 million. During the same period in the prior year, the company posted $0.69 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be given a $0.07 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.45%. Turning Point Brands’s dividend payout ratio (DPR) is 11.11%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TPB. Roth Mkm initiated coverage on Turning Point Brands in a research note on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective for the company. StockNews.com downgraded Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Oppenheimer began coverage on Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. Benchmark lifted their target price 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. Finally, Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $60.00.

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.