Assenagon Asset Management S.A. Grows Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Assenagon Asset Management S.A. raised its position in Turning Point Brands, Inc. (NYSE:TPB) by 162.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 521,980 shares of the company’s stock after buying an additional 323,157 shares during the quarter. Assenagon Asset Management S.A. owned about 2.97% of Turning Point Brands worth $13,739,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Ameritas Investment Partners Inc. grew its stake in Turning Point Brands by 40.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,415 shares of the company’s stock valued at $34,000 after buying an additional 404 shares in the last quarter. Citigroup Inc. lifted its holdings in Turning Point Brands by 97.2% during the 4th quarter. Citigroup Inc. now owns 3,196 shares of the company’s stock worth $69,000 after purchasing an additional 1,575 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Turning Point Brands by 25.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the company’s stock worth $76,000 after purchasing an additional 725 shares in the last quarter. Engine Capital Management LP bought a new position in Turning Point Brands in the 2nd quarter worth about $149,000. Finally, Legal & General Group Plc grew its holdings in Turning Point Brands by 8.1% during the 2nd quarter. Legal & General Group Plc now owns 5,461 shares of the company’s stock valued at $149,000 after buying an additional 407 shares in the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Turning Point Brands news, insider Plano Lorenzo De purchased 15,043 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $27.97 per share, with a total value of $420,752.71. Following the acquisition, the insider now directly owns 31,375 shares in the company, valued at approximately $877,558.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is owned by company insiders.

Turning Point Brands Trading Up 0.2 %

Shares of Turning Point Brands stock opened at $29.30 on Friday. The company’s 50-day moving average price is $25.45 and its 200-day moving average price is $24.13. The company has a current ratio of 2.67, a quick ratio of 1.68 and a debt-to-equity ratio of 2.02. Turning Point Brands, Inc. has a 12-month low of $19.67 and a 12-month high of $29.86. The company has a market cap of $518.02 million, a price-to-earnings ratio of 14.29 and a beta of 0.47.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Wednesday, February 28th. The company reported $0.72 earnings per share (EPS) for the quarter. The business had revenue of $97.10 million for the quarter, compared to analysts’ expectations of $90.11 million. Turning Point Brands had a net margin of 9.49% and a return on equity of 38.62%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS.

Turning Point Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be paid a dividend of $0.07 per share. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $0.28 annualized dividend and a yield of 0.96%. Turning Point Brands’s dividend payout ratio (DPR) is currently 13.66%.

About Turning Point Brands

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.