10,092 Shares in Turning Point Brands, Inc. (NYSE:TPB) Acquired by Verition Fund Management LLC

Verition Fund Management LLC acquired a new stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,092 shares of the company's stock, valued at approximately $435,000. Verition Fund Management LLC owned 0.06% of Turning Point Brands as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Copeland Capital Management LLC bought a new position in Turning Point Brands during the 3rd quarter valued at approximately $61,000. SG Americas Securities LLC acquired a new position in shares of Turning Point Brands in the second quarter valued at approximately $129,000. The Manufacturers Life Insurance Company purchased a new position in shares of Turning Point Brands in the second quarter valued at $209,000. Magnetar Financial LLC acquired a new stake in Turning Point Brands during the second quarter worth about $212,000. Finally, Aigen Investment Management LP acquired a new position in shares of Turning Point Brands in the third quarter worth about $221,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TPB shares. Oppenheimer assumed coverage on Turning Point Brands in a research report on Thursday, November 14th. They issued an "outperform" rating and a $65.00 price objective for the company. Roth Capital raised Turning Point Brands to a "strong-buy" rating in a research note on Friday, November 8th. Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. StockNews.com cut Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Roth Mkm began coverage on shares of Turning Point Brands in a report on Thursday, September 19th. They issued a "buy" rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $63.75.

Turning Point Brands Price Performance

NYSE:TPB traded down $1.95 during trading hours on Friday, hitting $60.46. The company's stock had a trading volume of 294,374 shares, compared to its average volume of 128,042. Turning Point Brands, Inc. has a twelve month low of $21.98 and a twelve month high of $66.18. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The stock has a fifty day simple moving average of $52.72 and a 200-day simple moving average of $42.24. The company has a market capitalization of $1.07 billion, a P/E ratio of 24.02 and a beta of 0.66.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. Turning Point Brands's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. On average, analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

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. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.46%. Turning Point Brands's payout ratio is 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.