Capelight Capital Asset Management LP Increases Holdings in Turning Point Brands, Inc. $TPB

Capelight Capital Asset Management LP boosted its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 55.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. Turning Point Brands comprises about 1.7% of Capelight Capital Asset Management LP’s investment portfolio, making the stock its 20th biggest position. Capelight Capital Asset Management LP’s holdings in Turning Point Brands were worth $2,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Kemnay Advisory Services Inc. bought a new stake in Turning Point Brands in the fourth quarter worth $27,000. Empowered Funds LLC purchased a new stake in shares of Turning Point Brands in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Turning Point Brands in the 3rd quarter worth about $28,000. Advisory Services Network LLC purchased a new position in shares of Turning Point Brands during the 3rd quarter worth about $28,000. Finally, Huntington National Bank grew its holdings in Turning Point Brands by 54.9% during the 3rd quarter. Huntington National Bank now owns 457 shares of the company’s stock valued at $45,000 after purchasing an additional 162 shares during the last quarter. 96.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on TPB shares. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings lowered Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $118.75.

Turning Point Brands Stock Down 1.7%

Shares of Turning Point Brands stock opened at $85.85 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 29.20 and a beta of 0.92. The firm’s 50-day moving average is $84.67 and its two-hundred day moving average is $98.31. Turning Point Brands, Inc. has a 1 year low of $65.80 and a 1 year high of $146.90.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The business had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. During the same quarter in the previous year, the business posted $0.91 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, research analysts expect that Turning Point Brands, Inc. will post 1.39 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, June 18th. Turning Point Brands’s dividend payout ratio (DPR) is presently 10.88%.

Insider Buying and Selling

In related news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the transaction, the chief accounting officer owned 9,230 shares of the company’s stock, valued at $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.40% of the stock is owned by company insiders.

Turning Point Brands Company Profile

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.