HighTower Advisors LLC Makes New $3.74 Million Investment in Turning Point Brands, Inc. $TPB

HighTower Advisors LLC bought a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 37,783 shares of the company’s stock, valued at approximately $3,735,000.

Several other hedge funds have also recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Turning Point Brands by 72.1% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 58,377 shares of the company’s stock valued at $5,771,000 after purchasing an additional 24,460 shares during the period. GatePass Capital LLC purchased a new position in shares of Turning Point Brands during the 3rd quarter worth approximately $1,119,000. Vest Financial LLC acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at approximately $1,419,000. 4D Advisors LLC boosted its stake in shares of Turning Point Brands by 133.7% in the second quarter. 4D Advisors LLC now owns 222,000 shares of the company’s stock valued at $16,821,000 after buying an additional 127,000 shares in the last quarter. Finally, AWH Capital L.P. acquired a new position in Turning Point Brands during the second quarter worth $3,410,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director H.C. Charles Diao sold 2,000 shares of Turning Point Brands stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $108.20, for a total transaction of $216,400.00. Following the completion of the sale, the director owned 9,804 shares in the company, valued at approximately $1,060,792.80. This trade represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman David Edward Glazek sold 30,000 shares of the business’s 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 $14,012,171.58. The trade was a 19.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TPB shares. Wall Street Zen downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Zacks Research downgraded shares of Turning Point Brands from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Alliance Global Partners raised their price objective on shares of Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. iA Financial set a $110.00 target price on shares of Turning Point Brands in a research report on Wednesday, November 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Turning Point Brands in a report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.67.

Turning Point Brands Trading Up 4.3%

Shares of Turning Point Brands stock opened at $142.77 on Thursday. Turning Point Brands, Inc. has a 1 year low of $51.48 and a 1 year high of $143.98. 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 business has a 50 day moving average price of $119.02 and a 200 day moving average price of $105.04. The company has a market capitalization of $2.72 billion, a P/E ratio of 50.27 and a beta of 0.87.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be given a $0.08 dividend. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.08. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, March 20th. Turning Point Brands’s dividend payout ratio (DPR) is currently 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.