Legato Capital Management LLC Has $231,000 Stock Position in Turning Point Brands, Inc. (NYSE:TPB)

Legato Capital Management LLC trimmed its position in Turning Point Brands, Inc. (NYSE:TPB) by 15.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,884 shares of the company’s stock after selling 736 shares during the quarter. Legato Capital Management LLC’s holdings in Turning Point Brands were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Turning Point Brands by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company’s stock worth $91,631,000 after buying an additional 18,440 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Turning Point Brands by 36.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock worth $19,145,000 after buying an additional 84,552 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Turning Point Brands by 1.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 243,691 shares of the company’s stock worth $14,646,000 after buying an additional 2,667 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Turning Point Brands by 21.2% in the fourth quarter. Nuveen Asset Management LLC now owns 189,083 shares of the company’s stock worth $11,364,000 after buying an additional 33,080 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Turning Point Brands by 7.9% in the fourth quarter. Northern Trust Corp now owns 160,386 shares of the company’s stock worth $9,639,000 after buying an additional 11,808 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

NYSE:TPB opened at $78.30 on Friday. The stock has a market cap of $1.40 billion, a P/E ratio of 34.34 and a beta of 0.75. Turning Point Brands, Inc. has a one year low of $34.78 and a one year high of $81.25. The company has a fifty day moving average price of $74.86 and a 200 day moving average price of $66.48. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.42 and a quick ratio of 2.64.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.16. The firm had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. Turning Point Brands had a net margin of 10.19% and a return on equity of 27.70%. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Friday, June 20th. Turning Point Brands’s payout ratio is 13.16%.

Insiders Place Their Bets

In other news, CEO Graham Purdy sold 21,400 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $74.89, for a total value of $1,602,646.00. Following the sale, the chief executive officer owned 227,466 shares of the company’s stock, valued at approximately $17,034,928.74. This represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Wigginton sold 10,800 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.67, for a total transaction of $817,236.00. Following the completion of the sale, the chief accounting officer directly owned 10,171 shares in the company, valued at approximately $769,639.57. The trade was a 51.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,300 shares of company stock worth $8,666,867 in the last quarter. 6.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on TPB. Wall Street Zen cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday. Oppenheimer upped their target price on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $76.67.

About Turning Point Brands

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.