Pekin Hardy Strauss Inc. Buys New Position in Turning Point Brands, Inc. (NYSE:TPB)

Pekin Hardy Strauss Inc. purchased a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 29,190 shares of the company’s stock, valued at approximately $1,260,000. Pekin Hardy Strauss Inc. owned approximately 0.16% of Turning Point Brands as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TPB. Charles Schwab Investment Management Inc. lifted its position in shares of Turning Point Brands by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock worth $6,269,000 after purchasing an additional 2,442 shares during the period. Moran Wealth Management LLC bought a new position in Turning Point Brands in the third quarter worth about $236,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Turning Point Brands in the third quarter worth about $326,000. Aigen Investment Management LP bought a new stake in Turning Point Brands during the 3rd quarter valued at approximately $221,000. Finally, Copeland Capital Management LLC purchased a new position in shares of Turning Point Brands during the 3rd quarter worth approximately $61,000. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Trading Up 1.3 %

NYSE TPB opened at $62.65 on Friday. 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. The stock’s fifty day moving average price is $46.86 and its 200-day moving average price is $39.43. The stock has a market cap of $1.11 billion, a P/E ratio of 24.86 and a beta of 0.63.

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

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a $0.07 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.45%. Turning Point Brands’s payout ratio is 11.11%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Roth Mkm began coverage on shares of Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 target price on the stock. Benchmark upped their target price 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. StockNews.com cut shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Finally, Oppenheimer began coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. Four 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, Turning Point Brands presently has a consensus rating of “Buy” and a consensus target price of $60.00.

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.