Vanguard Group Inc. Buys 61,311 Shares of Turning Point Brands, Inc. $TPB

Vanguard Group Inc. boosted its position in Turning Point Brands, Inc. (NYSE:TPB) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,451,394 shares of the company’s stock after acquiring an additional 61,311 shares during the period. Vanguard Group Inc. owned 0.08% of Turning Point Brands worth $157,331,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. First Horizon Corp bought a new stake in shares of Turning Point Brands in the 3rd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Turning Point Brands in the third quarter valued at approximately $28,000. Advisory Services Network LLC acquired a new stake in Turning Point Brands in the third quarter valued at approximately $28,000. Huntington National Bank grew its holdings in Turning Point Brands by 54.9% in the third quarter. Huntington National Bank now owns 457 shares of the company’s stock worth $45,000 after purchasing an additional 162 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Turning Point Brands by 33.4% during the fourth quarter. GAMMA Investing LLC now owns 491 shares of the company’s stock worth $53,000 after purchasing an additional 123 shares in the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Friday. Weiss Ratings lowered Turning Point Brands from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, April 21st. Zacks Research downgraded Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Oppenheimer restated an “outperform” rating and set a $130.00 price target on shares of Turning Point Brands in a research note on Wednesday, January 14th. Finally, Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $118.75.

Insider Buying and Selling

In other Turning Point Brands news, CFO Andrew Flynn sold 2,000 shares of Turning Point Brands stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total transaction of $195,140.00. Following the completion of the sale, the chief financial officer directly owned 9,443 shares in the company, valued at approximately $921,353.51. The trade was a 17.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.40% of the company’s stock.

Turning Point Brands Stock Down 1.1%

Turning Point Brands stock opened at $92.40 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.12 and a current ratio of 5.56. The business’s 50-day simple moving average is $85.68 and its two-hundred day simple moving average is $101.54. The company has a market cap of $1.79 billion, a PE ratio of 31.43 and a beta of 0.93. Turning Point Brands, Inc. has a fifty-two week low of $65.80 and a fifty-two week high of $146.90.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. Turning Point Brands had a return on equity of 17.42% and a net margin of 11.53%.The firm had revenue of $124.28 million during the quarter, compared to analysts’ expectations of $115.67 million. During the same period last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities analysts anticipate that Turning Point Brands, Inc. will post 2.66 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.88%.

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.