Turning Point Brands (NYSE:TPB) Announces Earnings Results, Misses Expectations By $0.45 EPS

Turning Point Brands (NYSE:TPB) issued its quarterly earnings data on Monday. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.45), Briefing.com reports. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS.

Turning Point Brands Stock Down 3.6%

Turning Point Brands stock opened at $136.77 on Monday. The firm has a 50 day moving average price of $120.23 and a 200-day moving average price of $105.65. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.82. Turning Point Brands has a twelve month low of $51.48 and a twelve month high of $146.90. The company has a market capitalization of $2.61 billion, a P/E ratio of 48.16 and a beta of 0.87.

Turning Point Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 20th will be paid a $0.08 dividend. The ex-dividend date is Friday, March 20th. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Turning Point Brands’s dividend payout ratio is presently 11.27%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. iA Financial set a $110.00 target price on shares of Turning Point Brands in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Oppenheimer reissued an “outperform” rating and set a $130.00 target price on shares of Turning Point Brands in a research report on Wednesday, January 14th. Alliance Global Partners boosted their target price on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Zacks Research downgraded Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.67.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, Chairman David Edward Glazek sold 30,000 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the completion of the transaction, the chairman directly owned 127,083 shares of the company’s stock, valued at approximately $14,012,171.58. This represents a 19.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director H.C. Charles Diao sold 2,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $108.20, for a total value of $216,400.00. Following the completion of the sale, the director directly owned 9,804 shares of the company’s stock, valued at $1,060,792.80. This represents a 16.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Turning Point Brands

Several institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its position in Turning Point Brands by 43.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 488,833 shares of the company’s stock worth $52,990,000 after purchasing an additional 147,032 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake 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 in the last quarter. 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 boosted its holdings in Turning Point Brands by 4.0% in the 4th quarter. Beacon Pointe Advisors LLC now owns 12,640 shares of the company’s stock worth $1,370,000 after buying an additional 485 shares during the period. Finally, Pillsbury Lake Capital LLC purchased a new position in Turning Point Brands in the 4th quarter valued at approximately $17,370,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

About Turning Point Brands

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.