Osterweis Capital Management Inc. Acquires New Shares in Turning Point Brands, Inc. $TPB

Osterweis Capital Management Inc. purchased a new stake in Turning Point Brands, Inc. (NYSE:TPB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 76,076 shares of the company’s stock, valued at approximately $6,452,000. Osterweis Capital Management Inc. owned about 0.39% of Turning Point Brands at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Covestor Ltd raised its position in shares of Turning Point Brands by 16.3% during the fourth quarter. Covestor Ltd now owns 663 shares of the company’s stock worth $72,000 after purchasing an additional 93 shares during the period. Osaic Holdings Inc. boosted its stake in Turning Point Brands by 5.5% in the 4th quarter. Osaic Holdings Inc. now owns 1,888 shares of the company’s stock worth $205,000 after purchasing an additional 98 shares during the period. CWM LLC boosted its position in shares of Turning Point Brands by 6.2% during the fourth quarter. CWM LLC now owns 2,706 shares of the company’s stock worth $293,000 after buying an additional 157 shares during the period. Boston Partners grew its stake in shares of Turning Point Brands by 1.5% during the 3rd quarter. Boston Partners now owns 13,712 shares of the company’s stock worth $1,356,000 after acquiring an additional 206 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Turning Point Brands by 1.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,082 shares of the company’s stock valued at $2,502,000 after purchasing an additional 243 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Analysts Set New Price Targets

TPB has been the topic of several recent analyst reports. BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a research report on Monday, August 10th. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Compass Point set a $116.00 target price on Turning Point Brands in a report on Monday, August 10th. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Friday, May 8th. Finally, Weiss Ratings cut shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Turning Point Brands has an average rating of “Moderate Buy” and an average price target of $115.67.

Turning Point Brands Stock Down 0.1%

TPB stock opened at $83.33 on Tuesday. The company has a market cap of $1.61 billion, a PE ratio of 35.76 and a beta of 0.92. The business has a 50-day simple moving average of $83.09 and a 200 day simple moving average of $90.55. Turning Point Brands, Inc. has a 52 week low of $65.80 and a 52 week high of $146.90. The company has a quick ratio of 4.16, a current ratio of 5.67 and a debt-to-equity ratio of 0.65.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The firm had revenue of $142.96 million for the quarter, compared to the consensus estimate of $129.56 million. During the same period in the prior year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. Sell-side analysts anticipate that Turning Point Brands, Inc. will post 1.23 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, September 18th. Turning Point Brands’s dividend payout ratio is 13.73%.

About Turning Point Brands

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.