5,471 Shares in Turning Point Brands, Inc. (NYSE:TPB) Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC bought a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,471 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds have also made changes to their positions in TPB. Federated Hermes Inc. grew its position in Turning Point Brands by 245.9% in the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock worth $4,965,000 after acquiring an additional 109,983 shares during the period. Vanguard Group Inc. lifted its stake in shares of Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after purchasing an additional 92,147 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Turning Point Brands during the 1st quarter worth $1,661,000. Renaissance Technologies LLC increased its position in shares of Turning Point Brands by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock worth $9,714,000 after purchasing an additional 52,800 shares during the last quarter. Finally, Boston Partners purchased a new stake in Turning Point Brands in the 1st quarter valued at about $964,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Wall Street Analyst Weigh In

TPB has been the subject of a number of recent analyst reports. Benchmark lifted their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Oppenheimer started coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Roth Mkm assumed coverage on Turning Point Brands in a research note on Thursday, September 19th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $60.00.

Turning Point Brands Stock Up 1.3 %

Shares of NYSE TPB opened at $62.65 on Friday. The stock has a market cap of $1.11 billion, a P/E ratio of 24.50 and a beta of 0.63. The business’s fifty day simple moving average is $46.39 and its 200-day simple moving average is $39.23. Turning Point Brands, Inc. has a 12-month low of $21.98 and a 12-month high of $63.51. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same quarter last year, the company earned $0.69 EPS. Turning Point Brands’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.

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.