Aigen Investment Management LP Purchases New Position in Turning Point Brands, Inc. (NYSE:TPB)

Aigen Investment Management LP purchased a new position in Turning Point Brands, Inc. (NYSE:TPB) in the third quarter, HoldingsChannel reports. The fund purchased 5,120 shares of the company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also bought and sold shares of TPB. Vanguard Group Inc. lifted its stake in shares of Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after purchasing an additional 92,147 shares during the period. Dimensional Fund Advisors LP raised its holdings in Turning Point Brands by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock worth $14,785,000 after purchasing an additional 4,600 shares in the last quarter. Renaissance Technologies LLC lifted its position in Turning Point Brands by 21.1% during the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after buying an additional 52,800 shares during the period. Aristides Capital LLC boosted its holdings in shares of Turning Point Brands by 6.3% during the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock valued at $6,514,000 after buying an additional 12,041 shares in the last quarter. Finally, Harspring Capital Management LLC grew its position in shares of Turning Point Brands by 13.4% in the 2nd quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock worth $5,824,000 after buying an additional 21,500 shares during the period. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Price Performance

Shares of TPB opened at $60.58 on Friday. Turning Point Brands, Inc. has a twelve month low of $21.66 and a twelve month high of $61.47. The company has a market capitalization of $1.07 billion, a P/E ratio of 24.04 and a beta of 0.63. The firm has a 50 day moving average of $44.60 and a 200 day moving average of $38.38. The company has a quick ratio of 1.17, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating 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 company had revenue of $105.62 million for the quarter, compared to analysts’ expectations of $100.71 million. During the same period last year, the firm posted $0.69 earnings per share. Turning Point Brands’s revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.46%. Turning Point Brands’s payout ratio is 11.11%.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the sale, the director now directly owns 46,544 shares in the company, valued at approximately $1,834,764.48. The trade was a 4.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TPB has been the subject of a number of recent research reports. StockNews.com cut shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Roth Mkm assumed coverage on Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target on the stock. Oppenheimer initiated coverage on Turning Point Brands in a research report on Thursday. They set an “outperform” rating and a $65.00 price objective for the company. Benchmark boosted their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Turning Point Brands has a consensus rating of “Buy” and an average target price of $60.00.

Turning Point Brands 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.