SWP Investment Management LLC Purchases Shares of 25,630 Turning Point Brands, Inc. $TPB

SWP Investment Management LLC bought a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 25,630 shares of the company’s stock, valued at approximately $2,174,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Apis Capital Advisors LLC boosted its holdings in shares of Turning Point Brands by 186.2% in the 4th quarter. Apis Capital Advisors LLC now owns 164,377 shares of the company’s stock valued at $17,818,000 after buying an additional 106,948 shares in the last quarter. Copeland Capital Management LLC raised its stake in Turning Point Brands by 29,795.8% during the 4th quarter. Copeland Capital Management LLC now owns 204,188 shares of the company’s stock worth $22,134,000 after acquiring an additional 203,505 shares in the last quarter. M&T Bank Corp raised its stake in Turning Point Brands by 712.5% during the 4th quarter. M&T Bank Corp now owns 19,499 shares of the company’s stock worth $2,114,000 after acquiring an additional 17,099 shares in the last quarter. Bronte Capital Management Pty Ltd. purchased a new stake in Turning Point Brands in the fourth quarter valued at $2,642,000. Finally, Capelight Capital Asset Management LP purchased a new stake in Turning Point Brands in the fourth quarter valued at $1,951,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $80.18 on Tuesday. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 27.27 and a beta of 0.92. The stock has a 50 day simple moving average of $82.69 and a 200-day simple moving average of $94.18. Turning Point Brands, Inc. has a 12-month low of $65.80 and a 12-month high of $146.90. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76.

Turning Point Brands (NYSE:TPB) last announced its quarterly 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. 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 the consensus estimate of $115.67 million. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. On average, equities analysts forecast that Turning Point Brands, Inc. will post 1.39 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands’s dividend payout ratio is presently 10.88%.

Insider Transactions at Turning Point Brands

In other news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TPB shares. Needham & Company LLC raised 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. Compass Point set a $103.00 price objective on Turning Point Brands in a research note on Tuesday, July 21st. Weiss Ratings downgraded Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Wall Street Zen lowered shares of Turning Point Brands from a “sell” rating to a “strong sell” rating in a research report on Sunday. Finally, BTIG Research assumed coverage on shares of Turning Point Brands in a research report on Tuesday, July 21st. They set a “buy” rating and a $103.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Turning Point Brands has a consensus rating of “Moderate Buy” and an average target price of $113.50.

Turning Point Brands 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.