USA Financial Formulas Makes New $73,000 Investment in Turning Point Brands, Inc. (NYSE:TPB)

USA Financial Formulas purchased a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,218 shares of the company’s stock, valued at approximately $73,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TPB. First Sabrepoint Capital Management LP acquired a new stake in shares of Turning Point Brands during the third quarter worth $7,517,000. Federated Hermes Inc. lifted its position in Turning Point Brands by 245.9% during the 2nd 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. JPMorgan Chase & Co. grew its stake in Turning Point Brands by 84.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock valued at $5,311,000 after purchasing an additional 56,364 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Turning Point Brands by 21.1% in the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after purchasing an additional 52,800 shares during the period. Finally, 272 Capital LP acquired a new position in shares of Turning Point Brands in the third quarter valued at about $1,488,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TPB shares. Craig Hallum boosted their price objective on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Benchmark upped 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 report on Tuesday, November 12th. Roth Mkm restated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Finally, StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $68.75.

Turning Point Brands Trading Up 0.1 %

Shares of TPB stock opened at $56.48 on Friday. Turning Point Brands, Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $66.18. The company has a 50 day moving average price of $59.52 and a 200 day moving average price of $46.81. The stock has a market capitalization of $999.70 million, a P/E ratio of 22.41 and a beta of 0.66. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.

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

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.50%. Turning Point Brands’s dividend payout ratio (DPR) 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.