Quantbot Technologies LP Sells 2,076 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Quantbot Technologies LP trimmed its stake in Turning Point Brands, Inc. (NYSE:TPB) by 57.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,512 shares of the company’s stock after selling 2,076 shares during the period. Quantbot Technologies LP’s holdings in Turning Point Brands were worth $65,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Copeland Capital Management LLC purchased a new stake in Turning Point Brands in the third quarter worth approximately $61,000. SG Americas Securities LLC bought a new position in shares of Turning Point Brands during the 2nd quarter valued at $129,000. Aigen Investment Management LP purchased a new position in Turning Point Brands in the 3rd quarter worth $221,000. Moran Wealth Management LLC bought a new stake in Turning Point Brands in the third quarter worth $236,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Turning Point Brands during the second quarter valued at about $209,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Stock Up 0.3 %

Shares of Turning Point Brands stock opened at $64.22 on Friday. The company’s fifty day simple moving average is $51.07 and its two-hundred day simple moving average is $41.46. Turning Point Brands, Inc. has a 12-month low of $21.98 and a 12-month high of $66.18. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The company has a market cap of $1.14 billion, a P/E ratio of 25.48 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results 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. The company had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. Turning Point Brands’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. Research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.44%. Turning Point Brands’s payout ratio is 11.11%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TPB. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Craig Hallum increased their price objective on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Oppenheimer began coverage on shares of Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price on the stock. Roth Mkm assumed coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price target for the company. Finally, Benchmark boosted their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $63.75.

About Turning Point Brands

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.