Emmett Investment Management LP Invests $2.18 Million in Turning Point Brands, Inc. (NYSE:TPB)

Emmett Investment Management LP purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,303 shares of the company’s stock, valued at approximately $2,182,000. Turning Point Brands comprises 2.0% of Emmett Investment Management LP’s holdings, making the stock its 23rd biggest holding. Emmett Investment Management LP owned approximately 0.21% of Turning Point Brands as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TPB. Barclays PLC raised its stake in shares of Turning Point Brands by 298.6% during the third quarter. Barclays PLC now owns 29,274 shares of the company’s stock valued at $1,262,000 after acquiring an additional 21,930 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Turning Point Brands by 84.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock worth $5,311,000 after buying an additional 56,364 shares during the period. USA Financial Formulas bought a new stake in shares of Turning Point Brands in the 4th quarter worth approximately $73,000. Linden Thomas Advisory Services LLC grew its position in shares of Turning Point Brands by 22.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 26,757 shares of the company’s stock worth $1,608,000 after buying an additional 4,967 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Turning Point Brands during the fourth quarter valued at approximately $234,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a research note on Thursday, March 6th. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. Alliance Global Partners assumed coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 price target on the stock. Oppenheimer raised their price objective on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $76.67.

Turning Point Brands Stock Down 6.7 %

Shares of Turning Point Brands stock opened at $75.59 on Friday. The company has a 50-day moving average of $59.82 and a 200 day moving average of $59.74. Turning Point Brands, Inc. has a 1 year low of $30.61 and a 1 year high of $81.05. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 30.00 and a beta of 0.69. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.16. The firm had revenue of $106.44 million during the quarter, compared to analyst estimates of $95.75 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 28.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. As a group, sell-side analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 20th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands’s dividend payout ratio (DPR) is currently 14.15%.

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.