9,888 Shares in Turning Point Brands, Inc. $TPB Purchased by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 9,888 shares of the company’s stock, valued at approximately $858,000.

A number of other large investors have also added to or reduced their stakes in TPB. Covestor Ltd increased its stake in shares of Turning Point Brands by 16.3% in the fourth quarter. Covestor Ltd now owns 663 shares of the company’s stock worth $72,000 after purchasing an additional 93 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Turning Point Brands by 5.5% during the 4th quarter. Osaic Holdings Inc. now owns 1,888 shares of the company’s stock valued at $205,000 after buying an additional 98 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Turning Point Brands by 33.4% during the 4th quarter. GAMMA Investing LLC now owns 491 shares of the company’s stock valued at $53,000 after buying an additional 123 shares in the last quarter. CWM LLC boosted its holdings in Turning Point Brands by 6.2% in the 4th quarter. CWM LLC now owns 2,706 shares of the company’s stock worth $293,000 after buying an additional 157 shares during the period. Finally, Boston Partners boosted its holdings in Turning Point Brands by 1.5% in the 3rd quarter. Boston Partners now owns 13,712 shares of the company’s stock worth $1,356,000 after buying an additional 206 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Insiders Place Their Bets

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the transaction, the chief accounting officer owned 9,230 shares in the company, valued at approximately $846,114.10. This represents a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

TPB has been the subject of a number of analyst reports. Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Friday, May 8th. Weiss Ratings lowered Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $118.75.

Turning Point Brands Price Performance

TPB opened at $85.85 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05. The stock’s 50 day simple moving average is $84.95 and its 200 day simple moving average is $98.22. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 29.20 and a beta of 0.92. Turning Point Brands, Inc. has a 1 year low of $65.80 and a 1 year high of $146.90.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. The company had revenue of $124.28 million for the quarter, compared to the consensus estimate of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 earnings per share. As a group, analysts predict that Turning Point Brands, Inc. will post 1.39 earnings per share for the current year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be issued a $0.08 dividend. The ex-dividend date is Thursday, June 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Turning Point Brands’s dividend payout ratio (DPR) is 10.88%.

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.