10,055 Shares in Turning Point Brands, Inc. (NYSE:TPB) Acquired by Keystone Financial Group

Keystone Financial Group acquired a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,055 shares of the company’s stock, valued at approximately $265,000. Keystone Financial Group owned 0.06% of Turning Point Brands at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in Turning Point Brands during the 4th quarter worth $65,000. Seizert Capital Partners LLC bought a new position in Turning Point Brands during the 4th quarter worth $286,000. Access Investment Management LLC bought a new position in Turning Point Brands during the 4th quarter worth $3,383,000. AJOVista LLC bought a new position in Turning Point Brands during the 4th quarter worth $47,000. Finally, M&T Bank Corp increased its stake in Turning Point Brands by 7.1% during the 4th quarter. M&T Bank Corp now owns 88,468 shares of the company’s stock worth $2,328,000 after acquiring an additional 5,900 shares during the period. Institutional investors own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

TPB has been the topic of a number of recent research reports. StockNews.com upgraded Turning Point Brands from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 17th. Benchmark lifted their price target on Turning Point Brands from $34.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, May 3rd.

Insider Buying and Selling

In related news, insider Plano Lorenzo De bought 15,043 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $27.97 per share, with a total value of $420,752.71. Following the acquisition, the insider now owns 31,375 shares of the company’s stock, valued at $877,558.75. The purchase was disclosed in a filing with the SEC, which is available through this link. 5.80% of the stock is currently owned by corporate insiders.

Turning Point Brands Price Performance

Shares of TPB traded down $0.11 during midday trading on Wednesday, hitting $33.62. The company’s stock had a trading volume of 24,415 shares, compared to its average volume of 118,553. Turning Point Brands, Inc. has a one year low of $19.67 and a one year high of $34.71. The company’s fifty day simple moving average is $29.64 and its two-hundred day simple moving average is $26.18. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $592.38 million, a price-to-earnings ratio of 14.88 and a beta of 0.50.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.72 earnings per share for the quarter. The business had revenue of $97.10 million for the quarter, compared to analyst estimates of $90.11 million. Turning Point Brands had a return on equity of 37.62% and a net margin of 10.68%. Turning Point Brands’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.83%. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Turning Point Brands Company 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.