UBS Group AG Has $2.35 Million Stake in Turning Point Brands, Inc. $TPB

UBS Group AG decreased its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 81.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,711 shares of the company’s stock after selling 96,050 shares during the quarter. UBS Group AG’s holdings in Turning Point Brands were worth $2,353,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TPB. Caitong International Asset Management Co. Ltd acquired a new stake in Turning Point Brands in the third quarter valued at $28,000. Advisory Services Network LLC acquired a new stake in Turning Point Brands in the third quarter valued at $28,000. Huntington National Bank lifted its stake in Turning Point Brands by 54.9% in the third quarter. Huntington National Bank now owns 457 shares of the company’s stock valued at $45,000 after acquiring an additional 162 shares during the last quarter. GAMMA Investing LLC lifted its stake in Turning Point Brands by 33.4% in the fourth quarter. GAMMA Investing LLC now owns 491 shares of the company’s stock valued at $53,000 after acquiring an additional 123 shares during the last quarter. Finally, First Horizon Corp lifted its stake in Turning Point Brands by 96.0% in the fourth quarter. First Horizon Corp now owns 492 shares of the company’s stock valued at $53,000 after acquiring an additional 241 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Insider Transactions at Turning Point Brands

In related news, CFO Andrew Flynn sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total transaction of $195,140.00. Following the transaction, the chief financial officer directly owned 9,443 shares of the company’s stock, valued at approximately $921,353.51. This trade represents a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total transaction of $366,680.00. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen cut shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings cut shares of Turning Point Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Zacks Research cut shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $118.75.

Turning Point Brands Price Performance

Shares of TPB opened at $89.93 on Thursday. The firm has a market capitalization of $1.74 billion, a PE ratio of 30.59 and a beta of 0.93. The company’s 50-day moving average is $83.73 and its 200-day moving average is $101.41. 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 current ratio of 5.87 and a quick ratio of 4.05.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.08. The company had revenue of $124.28 million for 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 company’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. Equities analysts forecast that Turning Point Brands, Inc. will post 2.66 EPS for the current year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, June 18th. Turning Point Brands’s dividend payout ratio (DPR) is currently 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.