Parthenon LLC Decreases Stake in Turning Point Brands, Inc. $TPB

Parthenon LLC cut its position in Turning Point Brands, Inc. (NYSE:TPB) by 36.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,770 shares of the company’s stock after selling 18,000 shares during the period. Parthenon LLC owned 0.17% of Turning Point Brands worth $3,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of TPB. GatePass Capital LLC purchased a new stake in Turning Point Brands during the 3rd quarter worth about $1,119,000. 4D Advisors LLC lifted its stake in Turning Point Brands by 133.7% during the second quarter. 4D Advisors LLC now owns 222,000 shares of the company’s stock worth $16,821,000 after purchasing an additional 127,000 shares during the last quarter. AWH Capital L.P. acquired a new position in Turning Point Brands in the second quarter valued at approximately $3,410,000. Arrowstreet Capital Limited Partnership increased its stake in Turning Point Brands by 15.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 330,182 shares of the company’s stock valued at $25,018,000 after purchasing an additional 44,179 shares during the last quarter. Finally, Vest Financial LLC acquired a new stake in Turning Point Brands during the third quarter worth approximately $1,419,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Turning Point Brands news, Director Stephen Usher sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $101.00, for a total transaction of $101,000.00. Following the sale, the director directly owned 5,175 shares in the company, valued at approximately $522,675. The trade was a 16.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David Edward Glazek sold 30,000 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the completion of the transaction, the chairman directly owned 127,083 shares of the company’s stock, valued at approximately $14,012,171.58. This trade represents a 19.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 96,220 shares of company stock valued at $9,958,542 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TPB shares. Alliance Global Partners upped their target price on shares of Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Industrial Alliance Securities set a $110.00 target price on Turning Point Brands in a research report on Wednesday, November 5th. Oppenheimer reissued an “outperform” rating and issued a $130.00 target price on shares of Turning Point Brands in a research report on Wednesday, January 14th. Zacks Research downgraded Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Turning Point Brands in a report on Tuesday, December 23rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.67.

Turning Point Brands Stock Performance

NYSE:TPB opened at $117.69 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 41.44 and a beta of 0.86. The firm’s fifty day moving average price is $106.42 and its 200 day moving average price is $97.41. Turning Point Brands, Inc. has a 1-year low of $51.48 and a 1-year high of $119.25.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.46. The business had revenue of $118.98 million for the quarter, compared to the consensus estimate of $111.42 million. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. On average, sell-side analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were given a $0.075 dividend. The ex-dividend date was Friday, December 19th. This represents a $0.30 annualized dividend and a yield of 0.3%. Turning Point Brands’s dividend payout ratio is presently 10.56%.

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.