272 Capital LP Takes $1.49 Million Position in Turning Point Brands, Inc. (NYSE:TPB)

272 Capital LP bought a new position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 34,492 shares of the company's stock, valued at approximately $1,488,000. 272 Capital LP owned 0.19% of Turning Point Brands as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new position in Turning Point Brands during the third quarter worth about $61,000. SG Americas Securities LLC bought a new stake in Turning Point Brands during the 2nd quarter worth approximately $129,000. The Manufacturers Life Insurance Company acquired a new stake in Turning Point Brands during the 2nd quarter worth approximately $209,000. Magnetar Financial LLC bought a new position in Turning Point Brands in the second quarter valued at approximately $212,000. Finally, Aigen Investment Management LP acquired a new position in shares of Turning Point Brands in the third quarter valued at approximately $221,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Turning Point Brands Stock Performance

Shares of TPB stock traded down $1.95 on Friday, reaching $60.46. The stock had a trading volume of 294,374 shares, compared to its average volume of 128,042. Turning Point Brands, Inc. has a 12 month low of $21.98 and a 12 month high of $66.18. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 24.02 and a beta of 0.66. The firm's 50-day moving average is $52.72 and its two-hundred day moving average is $42.24.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $100.71 million. During the same period in the previous year, the company posted $0.69 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a yield of 0.46%. Turning Point Brands's dividend payout ratio (DPR) is currently 11.11%.

Analyst Upgrades and Downgrades

TPB has been the topic of several research reports. Craig Hallum boosted their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Roth Capital upgraded Turning Point Brands to a "strong-buy" rating in a research note on Friday, November 8th. Benchmark raised their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Oppenheimer initiated coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an "outperform" rating and a $65.00 price objective on the stock. Finally, Roth Mkm assumed coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a "buy" rating and a $50.00 target price for the company. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $63.75.

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.