Dimensional Fund Advisors LP Grows Position in Turning Point Brands Inc (NYSE:TPB)

Dimensional Fund Advisors LP lifted its stake in Turning Point Brands Inc (NYSE:TPB) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 309,302 shares of the company’s stock after buying an additional 56,845 shares during the period. Dimensional Fund Advisors LP’s holdings in Turning Point Brands were worth $8,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its position in Turning Point Brands by 68.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,087,653 shares of the company’s stock worth $29,606,000 after purchasing an additional 443,344 shares in the last quarter. Prudential Financial Inc. raised its position in Turning Point Brands by 153.4% in the fourth quarter. Prudential Financial Inc. now owns 54,493 shares of the company’s stock worth $1,483,000 after purchasing an additional 32,991 shares in the last quarter. Mackay Shields LLC raised its position in Turning Point Brands by 87.1% in the fourth quarter. Mackay Shields LLC now owns 54,090 shares of the company’s stock worth $1,472,000 after purchasing an additional 25,188 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in Turning Point Brands in the fourth quarter worth about $561,000. Finally, BlackRock Inc. raised its position in Turning Point Brands by 3.4% in the fourth quarter. BlackRock Inc. now owns 565,243 shares of the company’s stock worth $15,386,000 after purchasing an additional 18,693 shares in the last quarter. Institutional investors and hedge funds own 31.10% of the company’s stock.

Several research analysts recently issued reports on TPB shares. Zacks Investment Research lowered shares of Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 23rd. B. Riley increased their price target on shares of Turning Point Brands from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, TheStreet raised shares of Turning Point Brands from a “c-” rating to a “b-” rating in a research report on Friday, May 10th.

NYSE:TPB opened at $52.52 on Friday. Turning Point Brands Inc has a 12-month low of $26.39 and a 12-month high of $55.53. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.77 and a quick ratio of 0.29. The stock has a market capitalization of $1.04 billion, a P/E ratio of 30.71 and a beta of 0.81.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.07. The company had revenue of $91.60 million during the quarter, compared to analyst estimates of $89.00 million. Turning Point Brands had a net margin of 8.22% and a return on equity of 47.17%. The company’s revenue was up 24.0% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. Equities analysts predict that Turning Point Brands Inc will post 1.97 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 21st will be issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, June 20th. Turning Point Brands’s payout ratio is 10.53%.

In other news, Director H.C. Charles Diao acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average price of $50.54 per share, with a total value of $101,080.00. Following the completion of the acquisition, the director now owns 12,000 shares in the company, valued at approximately $606,480. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.50% of the company’s stock.

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Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products in the United States. The company operates in three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.

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Institutional Ownership by Quarter for Turning Point Brands (NYSE:TPB)

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