Baird Financial Group Inc. Takes Position in Turning Point Brands, Inc. (NYSE:TPB)

Baird Financial Group Inc. bought a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,337 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after acquiring an additional 532 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in Turning Point Brands during the fourth quarter worth approximately $212,000. Entropy Technologies LP acquired a new stake in Turning Point Brands during the fourth quarter worth approximately $234,000. AlphaQuest LLC boosted its position in Turning Point Brands by 56.4% during the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company’s stock worth $248,000 after acquiring an additional 1,490 shares during the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in Turning Point Brands during the fourth quarter worth approximately $271,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TPB. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research report on Thursday, March 6th. Oppenheimer increased their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Alliance Global Partners began coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $76.67.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $73.44 on Friday. The company’s fifty day simple moving average is $60.98 and its 200-day simple moving average is $60.92. Turning Point Brands, Inc. has a 52 week low of $30.61 and a 52 week high of $81.05. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The company has a market cap of $1.31 billion, a PE ratio of 29.14 and a beta of 0.69.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.16. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. During the same quarter last year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 20th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Friday, June 20th. Turning Point Brands’s payout ratio is 13.16%.

Insider Activity at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 1,500 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $73.64, for a total transaction of $110,460.00. Following the completion of the sale, the director now directly owns 40,419 shares of the company’s stock, valued at approximately $2,976,455.16. This trade represents a 3.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brian Wigginton sold 3,500 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $75.75, for a total transaction of $265,125.00. Following the sale, the chief accounting officer now directly owns 10,171 shares of the company’s stock, valued at approximately $770,453.25. The trade was a 25.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.60% of the company’s stock.

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.