Linden Thomas Advisory Services LLC Purchases 4,967 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Linden Thomas Advisory Services LLC grew its position in Turning Point Brands, Inc. (NYSE:TPB) by 22.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,757 shares of the company’s stock after buying an additional 4,967 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Turning Point Brands were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Corsair Capital Management L.P. grew its holdings in Turning Point Brands by 49.0% during the third quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock worth $1,312,000 after purchasing an additional 10,000 shares during the period. Pekin Hardy Strauss Inc. bought a new stake in Turning Point Brands in the 3rd quarter valued at $1,260,000. Millennium Management LLC lifted its holdings in Turning Point Brands by 14.1% during the 2nd quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after purchasing an additional 22,035 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Turning Point Brands by 72,406.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,876 shares of the company’s stock worth $469,000 after purchasing an additional 10,861 shares during the period. Finally, 272 Capital LP acquired a new position in shares of Turning Point Brands in the third quarter valued at $1,488,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on TPB. Craig Hallum raised their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Roth Mkm restated a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Benchmark upped their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, Oppenheimer initiated coverage on Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $68.75.

Turning Point Brands Trading Up 1.9 %

Shares of NYSE:TPB opened at $57.50 on Friday. The business’s 50 day simple moving average is $59.75 and its 200 day simple moving average is $47.91. Turning Point Brands, Inc. has a 1 year low of $21.98 and a 1 year high of $66.18. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The company has a market capitalization of $1.02 billion, a P/E ratio of 22.82 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.68 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 company had revenue of $105.62 million for the quarter, compared to analysts’ expectations of $100.71 million. During the same quarter last year, the business earned $0.69 earnings per share. Turning Point Brands’s revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.

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.