Turning Point Brands, Inc. $TPB Shares Bought by Mangrove Partners IM LLC

Mangrove Partners IM LLC grew its position in Turning Point Brands, Inc. (NYSE:TPB) by 162.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,991 shares of the company’s stock after buying an additional 161,732 shares during the period. Turning Point Brands accounts for approximately 2.1% of Mangrove Partners IM LLC’s investment portfolio, making the stock its 20th largest position. Mangrove Partners IM LLC owned 1.37% of Turning Point Brands worth $25,802,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Turning Point Brands by 72.1% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 58,377 shares of the company’s stock valued at $5,771,000 after acquiring an additional 24,460 shares during the last quarter. GatePass Capital LLC purchased a new position in Turning Point Brands in the third quarter worth approximately $1,119,000. Vest Financial LLC acquired a new stake in Turning Point Brands during the third quarter worth $1,419,000. 4D Advisors LLC increased its stake in Turning Point Brands by 133.7% during the second quarter. 4D Advisors LLC now owns 222,000 shares of the company’s stock worth $16,821,000 after acquiring an additional 127,000 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Turning Point Brands in the third quarter valued at $3,735,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TPB shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Wall Street Zen downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Oppenheimer restated an “outperform” rating and issued a $130.00 price objective on shares of Turning Point Brands in a report on Wednesday, January 14th. Finally, Zacks Research cut shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $116.67.

Insider Activity at Turning Point Brands

In related news, Chairman David Edward Glazek sold 30,000 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $110.26, for a total value of $3,307,800.00. Following the sale, the chairman owned 127,083 shares in the company, valued at approximately $14,012,171.58. The trade was a 19.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew Flynn sold 2,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total value of $195,140.00. Following the transaction, the chief financial officer directly owned 9,443 shares in the company, valued at approximately $921,353.51. The trade was a 17.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 34,000 shares of company stock worth $3,719,340. 6.60% of the stock is currently owned by company insiders.

Turning Point Brands Stock Up 2.0%

Turning Point Brands stock opened at $90.71 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.12 and a current ratio of 5.56. The firm has a 50 day moving average price of $117.75 and a 200 day moving average price of $105.34. Turning Point Brands, Inc. has a fifty-two week low of $51.48 and a fifty-two week high of $146.90. The company has a market capitalization of $1.74 billion, a PE ratio of 28.98 and a beta of 0.85.

Turning Point Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, March 20th. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Turning Point Brands’s payout ratio is presently 9.58%.

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.