Manatuck Hill Partners LLC Purchases Shares of 10,000 Turning Point Brands, Inc. $TPB

Manatuck Hill Partners LLC acquired a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the company’s stock, valued at approximately $848,000. Manatuck Hill Partners LLC owned approximately 0.05% of Turning Point Brands at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TPB. Kemnay Advisory Services Inc. purchased a new position in shares of Turning Point Brands in the 4th quarter valued at $27,000. Empowered Funds LLC purchased a new stake in Turning Point Brands in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Turning Point Brands in the third quarter valued at $28,000. Advisory Services Network LLC acquired a new position in Turning Point Brands in the third quarter valued at $28,000. Finally, Covestor Ltd boosted its stake in Turning Point Brands by 16.3% in the fourth quarter. Covestor Ltd now owns 663 shares of the company’s stock valued at $72,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TPB. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Monday, August 10th. Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Friday, May 8th. BTIG Research restated a “buy” rating on shares of Turning Point Brands in a research note on Monday, August 10th. Weiss Ratings lowered Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Finally, Compass Point set a $116.00 price objective on Turning Point Brands in a research note on Monday, August 10th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.67.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $86.07 on Wednesday. The company has a 50-day simple moving average of $83.14 and a 200-day simple moving average of $90.26. Turning Point Brands, Inc. has a one year low of $65.80 and a one year high of $146.90. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 36.94 and a beta of 0.91.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The business had revenue of $142.96 million during the quarter, compared to the consensus estimate of $129.56 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, analysts predict that Turning Point Brands, Inc. will post 1.23 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th 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 Friday, September 18th. Turning Point Brands’s dividend payout ratio (DPR) is presently 13.73%.

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.