Algert Global LLC Acquires 12,460 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Algert Global LLC raised its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 265.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,150 shares of the company’s stock after acquiring an additional 12,460 shares during the quarter. Algert Global LLC’s holdings in Turning Point Brands were worth $785,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Royal Bank of Canada boosted its stake in Turning Point Brands by 270.6% in the first quarter. Royal Bank of Canada now owns 882 shares of the company’s stock valued at $46,000 after acquiring an additional 644 shares during the last quarter. Financial Management Professionals Inc. boosted its position in shares of Turning Point Brands by 57.5% during the second quarter. Financial Management Professionals Inc. now owns 3,082 shares of the company’s stock worth $141,000 after purchasing an additional 1,125 shares in the last quarter. Citigroup Inc. boosted its position in shares of Turning Point Brands by 231.4% during the second quarter. Citigroup Inc. now owns 3,294 shares of the company’s stock worth $150,000 after purchasing an additional 2,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Turning Point Brands by 63.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,494 shares of the company’s stock worth $160,000 after purchasing an additional 1,356 shares in the last quarter. Finally, Tudor Investment Corp Et Al bought a new position in shares of Turning Point Brands during the first quarter worth $208,000. 84.17% of the stock is currently owned by hedge funds and other institutional investors.

In related news, major shareholder General L.P. Standard sold 818,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $50.65, for a total transaction of $41,431,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.80% of the company’s stock.

A number of equities analysts have recently weighed in on TPB shares. B. Riley lifted their price target on shares of Turning Point Brands from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Zacks Investment Research cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Thursday, September 30th.

Shares of NYSE:TPB traded up $0.48 during midday trading on Thursday, reaching $48.81. 310 shares of the company were exchanged, compared to its average volume of 195,160. Turning Point Brands, Inc. has a fifty-two week low of $30.35 and a fifty-two week high of $61.08. The company has a quick ratio of 3.09, a current ratio of 4.70 and a debt-to-equity ratio of 3.11. The stock has a fifty day simple moving average of $48.16 and a two-hundred day simple moving average of $47.28. The firm has a market cap of $923.68 million, a PE ratio of 20.57 and a beta of 0.54.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Monday, July 26th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.19. Turning Point Brands had a net margin of 10.84% and a return on equity of 51.99%. The business had revenue of $122.60 million for the quarter, compared to analyst estimates of $106.22 million. During the same period last year, the business posted $0.71 earnings per share. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, analysts forecast that Turning Point Brands, Inc. will post 2.85 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 8th. Investors of record on Friday, September 17th were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Thursday, September 16th. Turning Point Brands’s payout ratio is 7.83%.

About Turning Point Brands

Turning Point Brands, Inc provides tobacco products. It operates through following segments: Smokeless products, Smoking products and NewGen products. The Smokeless products segment manufactures and markets moist snuff and contracts for and markets chewing tobacco products. The Smoking products segment imports and markets cigarette papers, tubes, finished cigars, NYO cigar tobaccos and cigar wraps and processes, packages and markets pipe tobaccos.

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Institutional Ownership by Quarter for Turning Point Brands (NYSE:TPB)

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