The Manufacturers Life Insurance Company Purchases New Position in Turning Point Brands, Inc. $TPB

The Manufacturers Life Insurance Company purchased a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,529 shares of the company’s stock, valued at approximately $808,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPB. Apis Capital Advisors LLC grew its position in shares of Turning Point Brands by 186.2% in the 4th quarter. Apis Capital Advisors LLC now owns 164,377 shares of the company’s stock valued at $17,818,000 after buying an additional 106,948 shares during the last quarter. SWP Investment Management LLC acquired a new stake in Turning Point Brands during the 2nd quarter worth $2,174,000. Norris Financial Group LLC purchased a new stake in Turning Point Brands in the first quarter valued at $4,151,000. AWH Capital L.P. lifted its position in Turning Point Brands by 45.1% in the fourth quarter. AWH Capital L.P. now owns 69,450 shares of the company’s stock valued at $7,528,000 after acquiring an additional 21,600 shares during the last quarter. Finally, Marathon Partners Equity Management LLC acquired a new position in Turning Point Brands in the second quarter valued at $4,198,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TPB. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. BTIG Research reissued a “buy” rating on shares of Turning Point Brands 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 target on Turning Point Brands in a research note on Monday, August 10th. Four equities 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. According to MarketBeat, Turning Point Brands presently has an average rating of “Moderate Buy” and an average price target of $115.67.

Turning Point Brands Stock Down 1.9%

TPB stock opened at $75.49 on Friday. The company has a fifty day moving average price of $82.94 and a 200 day moving average price of $87.86. Turning Point Brands, Inc. has a 12 month low of $65.80 and a 12 month high of $146.90. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 32.40 and a beta of 0.94. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.11. The company had revenue of $142.96 million for the quarter, compared to the consensus estimate of $129.56 million. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. Turning Point Brands’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. Sell-side analysts expect that Turning Point Brands, Inc. will post 1.23 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, September 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Turning Point Brands’s dividend payout ratio is 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.