Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP trimmed its position in Turning Point Brands, Inc. (NYSE:TPB) by 45.1% in the third quarter, Holdings Channel reports. The firm owned 8,338 shares of the company’s stock after selling 6,857 shares during the quarter. GSA Capital Partners LLP’s holdings in Turning Point Brands were worth $360,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in shares of Turning Point Brands in the 1st quarter worth approximately $48,000. Copeland Capital Management LLC bought a new position in Turning Point Brands during the third quarter worth $61,000. SG Americas Securities LLC acquired a new position in Turning Point Brands in the second quarter worth $129,000. The Manufacturers Life Insurance Company bought a new stake in Turning Point Brands during the second quarter valued at $209,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Turning Point Brands during the second quarter worth $212,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on TPB shares. StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Oppenheimer started coverage on Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 target price for the company. Roth Mkm started coverage on Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price target on the stock. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Benchmark increased their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $60.00.

Turning Point Brands Price Performance

NYSE TPB opened at $61.74 on Friday. The company has a 50-day moving average price of $45.94 and a two-hundred day moving average price of $39.07. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 24.72 and a beta of 0.63. 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 52 week low of $21.98 and a 52 week high of $63.51.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $100.71 million. During the same period in the prior year, the company posted $0.69 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

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

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.