Turning Point Brands, Inc. $TPB Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 59.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,260 shares of the company’s stock after acquiring an additional 8,316 shares during the quarter. Quantinno Capital Management LP owned 0.11% of Turning Point Brands worth $1,932,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Weiss Asset Management LP acquired a new position in Turning Point Brands during the 1st quarter worth $4,708,000. Guardian Point Capital LP increased its holdings in shares of Turning Point Brands by 114.6% during the first quarter. Guardian Point Capital LP now owns 125,000 shares of the company’s stock valued at $10,849,000 after purchasing an additional 66,761 shares during the period. Aristides Capital LLC raised its stake in shares of Turning Point Brands by 19.9% during the first quarter. Aristides Capital LLC now owns 103,164 shares of the company’s stock valued at $8,954,000 after purchasing an additional 17,154 shares in the last quarter. Sei Investments Co. raised its stake in shares of Turning Point Brands by 46.5% during the first quarter. Sei Investments Co. now owns 68,676 shares of the company’s stock valued at $5,960,000 after purchasing an additional 21,805 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Turning Point Brands by 25.8% in the first quarter. Cetera Investment Advisers now owns 4,053 shares of the company’s stock worth $352,000 after purchasing an additional 832 shares during the period. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Trading Down 1.8%

Shares of Turning Point Brands stock opened at $87.77 on Wednesday. The company has a quick ratio of 4.16, a current ratio of 5.67 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 37.67 and a beta of 0.92. The business has a fifty day simple moving average of $82.63 and a 200-day simple moving average of $92.82. Turning Point Brands, Inc. has a fifty-two week low of $65.80 and a fifty-two week high of $146.90.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a $0.08 dividend. The ex-dividend date is Friday, September 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Turning Point Brands’s payout ratio is 13.73%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings lowered shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Compass Point set a $116.00 price target on shares of Turning Point Brands in a research report on Monday. Needham & Company LLC raised shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Friday, May 8th. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a report on Monday. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $115.67.

Turning Point Brands Profile

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.