Turning Point Brands, Inc. $TPB Stock Purchased by Vest Financial LLC

Vest Financial LLC lifted its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 12.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 79,710 shares of the company’s stock after buying an additional 8,664 shares during the period. Vest Financial LLC’s holdings in Turning Point Brands were worth $4,679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Operose Advisors LLC purchased a new stake in shares of Turning Point Brands in the second quarter worth $42,000. GAMMA Investing LLC grew its holdings in shares of Turning Point Brands by 103.3% in the third quarter. GAMMA Investing LLC now owns 681 shares of the company’s stock valued at $40,000 after purchasing an additional 346 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Turning Point Brands in the 1st quarter worth about $126,000. Quantbot Technologies LP purchased a new stake in Turning Point Brands during the second quarter valued at approximately $209,000. Finally, Bessemer Group Inc. lifted its position in Turning Point Brands by 31.0% in the first quarter. Bessemer Group Inc. now owns 2,845 shares of the company’s stock worth $247,000 after buying an additional 674 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock opened at $64.12 on Friday. The firm has a market cap of $1.24 billion, a PE ratio of 27.52 and a beta of 0.97. Turning Point Brands, Inc. has a twelve month low of $54.17 and a twelve month high of $146.90. The business has a 50-day moving average price of $69.14 and a 200 day moving average price of $78.31. The company has a quick ratio of 4.16, a current ratio of 5.67 and a debt-to-equity ratio of 0.65.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.11. The firm had revenue of $142.96 million for the quarter, compared to analyst estimates of $129.56 million. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%. The business’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. Sell-side analysts predict that Turning Point Brands, Inc. will post 1.19 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, September 18th. Turning Point Brands’s dividend payout ratio (DPR) is 13.73%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Oppenheimer cut their target price on Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 22nd. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a research report on Friday, August 28th. Finally, Compass Point set a $116.00 price objective on Turning Point Brands in a report on Monday, August 10th. Four equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.00.

Turning Point Brands Company Profile

Turning Point Brands, Inc is a consumer products company focused on the manufacture, marketing and distribution of branded products for adult consumers. Its portfolio includes rolling papers, wraps, cigarette papers, smoking accessories, smokeless tobacco and modern oral nicotine products.

The company’s principal brands include Zig-Zag, a long-standing brand of rolling papers and related accessories, and Stoker’s, which offers moist smokeless tobacco and other tobacco products. Turning Point Brands also develops and markets newer nicotine products, including nicotine pouches, through its NewGen Products business.

Turning Point Brands serves retailers and consumers primarily in the United States through convenience stores, tobacco and specialty retailers, mass merchants, e-commerce channels and other distribution networks.