First Sabrepoint Capital Management LP Buys Shares of 174,203 Turning Point Brands, Inc. (NYSE:TPB)

First Sabrepoint Capital Management LP bought a new position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 174,203 shares of the company's stock, valued at approximately $7,517,000. Turning Point Brands comprises about 2.2% of First Sabrepoint Capital Management LP's portfolio, making the stock its 17th biggest holding. First Sabrepoint Capital Management LP owned about 0.98% of Turning Point Brands as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TPB. Barclays PLC lifted its position in Turning Point Brands by 298.6% during the third quarter. Barclays PLC now owns 29,274 shares of the company's stock worth $1,262,000 after acquiring an additional 21,930 shares during the last quarter. Jane Street Group LLC lifted its holdings in Turning Point Brands by 9.9% during the 3rd quarter. Jane Street Group LLC now owns 29,228 shares of the company's stock worth $1,261,000 after purchasing an additional 2,637 shares during the last quarter. Stifel Financial Corp boosted its stake in Turning Point Brands by 6.8% in the 3rd quarter. Stifel Financial Corp now owns 25,646 shares of the company's stock valued at $1,107,000 after purchasing an additional 1,634 shares during the period. 272 Capital LP bought a new stake in Turning Point Brands in the 3rd quarter valued at $1,488,000. Finally, Verition Fund Management LLC acquired a new position in Turning Point Brands in the 3rd quarter valued at $435,000. Institutional investors own 96.12% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Oppenheimer began coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an "outperform" rating and a $65.00 target price for the company. Benchmark boosted their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. StockNews.com cut shares of Turning Point Brands from a "strong-buy" rating to a "buy" rating in a report on Thursday, October 24th. Craig Hallum boosted their price target on Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Finally, Roth Capital upgraded Turning Point Brands to a "strong-buy" rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Turning Point Brands presently has a consensus rating of "Buy" and an average price target of $63.75.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock traded up $1.01 on Tuesday, reaching $63.83. 161,042 shares of the stock were exchanged, compared to its average volume of 126,711. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The firm has a market cap of $1.13 billion, a PE ratio of 24.93 and a beta of 0.66. The firm's 50 day moving average is $51.46 and its 200-day moving average is $41.73. Turning Point Brands, Inc. has a one year low of $21.98 and a one year high of $66.18.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share 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 firm had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. During the same quarter last year, the business posted $0.69 EPS. The company's revenue was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Friday, December 20th. Turning Point Brands's dividend payout ratio is presently 11.11%.

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.