M&T Bank Corp Grows Position in Turning Point Brands, Inc. (NYSE:TPB)

M&T Bank Corp boosted its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,468 shares of the company’s stock after purchasing an additional 5,900 shares during the period. M&T Bank Corp owned about 0.50% of Turning Point Brands worth $2,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp purchased a new position in Turning Point Brands during the third quarter valued at $204,000. Jump Financial LLC purchased a new position in Turning Point Brands during the third quarter valued at $296,000. Linden Thomas Advisory Services LLC lifted its position in shares of Turning Point Brands by 26.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 12,580 shares of the company’s stock valued at $331,000 after acquiring an additional 2,659 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of Turning Point Brands by 7.4% in the third quarter. Quadrature Capital Ltd now owns 14,899 shares of the company’s stock valued at $344,000 after acquiring an additional 1,026 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Turning Point Brands in the fourth quarter valued at about $422,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Turning Point Brands

In other news, insider Plano Lorenzo De bought 15,043 shares of Turning Point Brands stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $27.97 per share, with a total value of $420,752.71. Following the completion of the acquisition, the insider now owns 31,375 shares of the company’s stock, valued at approximately $877,558.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.80% of the company’s stock.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock opened at $33.19 on Thursday. The stock’s 50-day simple moving average is $28.36 and its 200-day simple moving average is $25.30. Turning Point Brands, Inc. has a 52 week low of $19.67 and a 52 week high of $34.00. The company has a market capitalization of $584.81 million, a price-to-earnings ratio of 14.62 and a beta of 0.50. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.90.

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

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.84%. Turning Point Brands’s dividend payout ratio (DPR) is 12.33%.

Wall Street Analyst Weigh In

Separately, Benchmark boosted their price objective on Turning Point Brands from $34.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, May 3rd.

Turning Point Brands Company 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.