54,248 Shares in Turning Point Brands, Inc. $TPB Acquired by Weiss Asset Management LP

Weiss Asset Management LP bought a new position in Turning Point Brands, Inc. (NYSE:TPB) during the 1st quarter, Holdings Channel reports. The institutional investor bought 54,248 shares of the company’s stock, valued at approximately $4,708,000.

Several other large investors have also recently bought and sold shares of TPB. Kemnay Advisory Services Inc. purchased a new position in shares of Turning Point Brands during the 4th quarter valued at $27,000. Empowered Funds LLC purchased a new stake in shares of Turning Point Brands in the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Turning Point Brands in the third quarter worth $28,000. Advisory Services Network LLC bought a new stake in Turning Point Brands during the third quarter valued at $28,000. Finally, First Horizon Corp boosted its stake in Turning Point Brands by 96.0% during the fourth quarter. First Horizon Corp now owns 492 shares of the company’s stock valued at $53,000 after buying an additional 241 shares during the period. 96.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TPB. Compass Point set a $103.00 target price on Turning Point Brands in a research report on Tuesday, July 21st. Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Friday, May 8th. Weiss Ratings downgraded Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. BTIG Research assumed coverage on Turning Point Brands in a report on Tuesday, July 21st. They set a “buy” rating and a $103.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Turning Point Brands has a consensus rating of “Moderate Buy” and a consensus target price of $113.50.

Insider Transactions at Turning Point Brands

In other news, CAO Brian Wigginton sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was 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 directly owned 9,230 shares in the company, valued at approximately $846,114.10. This represents a 30.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.40% of the stock is currently owned by company insiders.

Turning Point Brands Stock Performance

Turning Point Brands stock opened at $76.30 on Monday. Turning Point Brands, Inc. has a fifty-two week low of $65.80 and a fifty-two week high of $146.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. The stock has a market cap of $1.48 billion, a P/E ratio of 25.95 and a beta of 0.92. The firm’s fifty day moving average price is $84.14 and its 200-day moving average price is $95.39.

Turning Point Brands (NYSE:TPB) last announced its earnings results 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. The company 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%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, equities research analysts expect that Turning Point Brands, Inc. will post 1.39 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

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