Turning Point Brands, Inc. $TPB Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 68.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,495 shares of the company’s stock after selling 7,715 shares during the period. SG Americas Securities LLC’s holdings in Turning Point Brands were worth $303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its stake in shares of Turning Point Brands by 43.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 488,833 shares of the company’s stock valued at $52,990,000 after buying an additional 147,032 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Turning Point Brands by 21.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,563 shares of the company’s stock valued at $278,000 after buying an additional 445 shares during the period. Veradace Capital Management LLC purchased a new stake in shares of Turning Point Brands during the 4th quarter valued at approximately $6,792,000. Beacon Pointe Advisors LLC lifted its holdings in Turning Point Brands by 4.0% in the fourth quarter. Beacon Pointe Advisors LLC now owns 12,640 shares of the company’s stock valued at $1,370,000 after acquiring an additional 485 shares during the last quarter. Finally, Pillsbury Lake Capital LLC acquired a new position in Turning Point Brands in the fourth quarter valued at approximately $17,370,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

Shares of TPB opened at $87.47 on Friday. Turning Point Brands, Inc. has a fifty-two week low of $65.80 and a fifty-two week high of $146.90. The firm’s 50 day moving average price is $85.91 and its 200 day moving average price is $97.45. The company has a market cap of $1.69 billion, a P/E ratio of 29.75 and a beta of 0.92. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate 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 company had revenue of $124.28 million during the quarter, compared to analysts’ expectations of $115.67 million. During the same quarter last year, the company posted $0.91 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. On average, research analysts forecast that Turning Point Brands, Inc. will post 1.39 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 19th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, June 18th. Turning Point Brands’s dividend payout ratio (DPR) is presently 10.88%.

Insider Activity

In related news, CAO Brian Wigginton sold 4,000 shares of Turning Point Brands 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 in the company, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings downgraded Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Needham & Company LLC raised shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $118.75.

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.