Turning Point Brands, Inc. $TPB Shares Bought by Guardian Point Capital LP

Guardian Point Capital LP lifted its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 16.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 58,239 shares of the company’s stock after purchasing an additional 8,239 shares during the quarter. Turning Point Brands makes up 2.0% of Guardian Point Capital LP’s portfolio, making the stock its 11th largest holding. Guardian Point Capital LP’s holdings in Turning Point Brands were worth $6,313,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Kemnay Advisory Services Inc. bought a new stake in shares of Turning Point Brands during the 4th quarter valued at about $27,000. Empowered Funds LLC bought a new stake in shares of Turning Point Brands during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Turning Point Brands during the 3rd quarter valued at about $28,000. Advisory Services Network LLC bought a new stake in shares of Turning Point Brands during the 3rd quarter valued at about $28,000. Finally, Huntington National Bank grew its position in shares of 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 buying an additional 162 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Trading Up 2.0%

Turning Point Brands stock opened at $83.68 on Wednesday. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $83.68 and a two-hundred day moving average price of $99.82. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 28.46 and a beta of 0.92. Turning Point Brands, Inc. has a 52-week low of $65.80 and a 52-week high of $146.90.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. Turning Point Brands’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. Sell-side analysts expect that Turning Point Brands, Inc. will post 1.43 earnings per share for the current year.

Turning Point Brands Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TPB. Needham & Company LLC raised shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Friday, May 8th. Zacks Research downgraded shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings downgraded shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $118.75.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the completion of the transaction, the chief accounting officer directly owned 9,230 shares of the company’s stock, valued at $846,114.10. The trade was a 30.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.40% of the stock is owned by 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.