AJOVista LLC Invests $47,000 in Turning Point Brands, Inc. (NYSE:TPB)

AJOVista LLC bought a new stake in Turning Point Brands, Inc. (NYSE:TPB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,783 shares of the company’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp acquired a new position in Turning Point Brands during the third quarter valued at approximately $204,000. Teacher Retirement System of Texas boosted its stake in Turning Point Brands by 2.3% in the third quarter. Teacher Retirement System of Texas now owns 105,827 shares of the company’s stock valued at $2,444,000 after buying an additional 2,351 shares in the last quarter. M&T Bank Corp grew its position in Turning Point Brands by 6.8% in the third quarter. M&T Bank Corp now owns 82,568 shares of the company’s stock valued at $1,906,000 after acquiring an additional 5,234 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Turning Point Brands by 183.3% during the third quarter. Assenagon Asset Management S.A. now owns 198,823 shares of the company’s stock worth $4,591,000 after acquiring an additional 128,645 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Turning Point Brands during the 3rd quarter valued at approximately $296,000. Institutional investors own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark raised their price objective on Turning Point Brands from $34.00 to $45.00 and gave the company a “buy” rating in a report on Friday.

Insider Buying and Selling at Turning Point Brands

In other news, insider Plano Lorenzo De bought 15,043 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $27.97 per share, with a total value of $420,752.71. Following the completion of the purchase, the insider now directly owns 31,375 shares of the company’s stock, valued at $877,558.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.80% of the company’s stock.

Turning Point Brands Stock Performance

NYSE:TPB opened at $33.03 on Monday. The stock’s 50-day moving average is $27.77 and its 200-day moving average is $25.09. The stock has a market cap of $581.99 million, a P/E ratio of 14.42 and a beta of 0.50. Turning Point Brands, Inc. has a 1-year low of $19.67 and a 1-year high of $34.00. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.90.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.72 earnings per share (EPS) for the quarter. Turning Point Brands had a net margin of 10.68% and a return on equity of 37.62%. The firm had revenue of $97.10 million during the quarter, compared to analysts’ expectations of $90.11 million. During the same period in the prior year, the company posted $0.65 EPS. The company’s revenue was down 6.1% on a year-over-year basis.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be paid a $0.07 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.85%. Turning Point Brands’s payout ratio is 12.33%.

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.