Sierra Summit Advisors LLC Acquires Shares of 9,053 Turning Point Brands, Inc. $TPB

Sierra Summit Advisors LLC purchased a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,053 shares of the company’s stock, valued at approximately $981,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of 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 acquiring an additional 24,460 shares in the last quarter. Vest Financial LLC acquired a new position in shares of Turning Point Brands in the third quarter valued at about $1,419,000. Copeland Capital Management LLC grew its stake in shares of Turning Point Brands by 29,795.8% in the fourth quarter. Copeland Capital Management LLC now owns 204,188 shares of the company’s stock valued at $22,134,000 after acquiring an additional 203,505 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Turning Point Brands in the third quarter valued at about $3,735,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Turning Point Brands in the third quarter valued at about $2,230,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Turning Point Brands

In other news, CFO Andrew Flynn sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total value of $195,140.00. Following the completion of the transaction, the chief financial officer owned 9,443 shares of the company’s stock, valued at $921,353.51. This represents a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Brian Wigginton sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were 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. This represents a 30.23% decrease in their position. The SEC filing for this sale provides additional information. 5.40% of the stock is currently owned by corporate insiders.

Turning Point Brands Stock Up 2.1%

TPB stock opened at $91.10 on Thursday. The stock has a market capitalization of $1.76 billion, a P/E ratio of 30.99 and a beta of 0.93. 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, Inc. has a 12 month low of $65.80 and a 12 month high of $146.90. The firm has a 50-day moving average price of $83.80 and a 200-day moving average price of $101.62.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $124.28 million during the quarter, compared to analysts’ expectations of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.66 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

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

Analyst Ratings Changes

TPB has been the topic of several research reports. Wall Street Zen downgraded shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Zacks Research downgraded shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Turning Point Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $118.75.

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.