Guardian Point Capital LP Buys 66,761 Shares of Turning Point Brands, Inc. $TPB

Guardian Point Capital LP grew its stake in Turning Point Brands, Inc. (NYSE:TPB) by 114.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,000 shares of the company’s stock after purchasing an additional 66,761 shares during the period. Turning Point Brands makes up about 4.5% of Guardian Point Capital LP’s holdings, making the stock its 10th largest holding. Guardian Point Capital LP’s holdings in Turning Point Brands were worth $10,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Covestor Ltd lifted its position in Turning Point Brands by 16.3% during the fourth quarter. Covestor Ltd now owns 663 shares of the company’s stock worth $72,000 after buying an additional 93 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Turning Point Brands by 5.5% during the fourth quarter. Osaic Holdings Inc. now owns 1,888 shares of the company’s stock worth $205,000 after buying an additional 98 shares during the last quarter. GAMMA Investing LLC grew its holdings in Turning Point Brands by 33.4% in 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 grew 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 valued at $293,000 after buying an additional 157 shares in the last quarter. Finally, Boston Partners increased its stake in shares of 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 acquiring an additional 206 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Insider Buying and Selling at Turning Point Brands

In related news, CAO Brian Wigginton sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the completion of the transaction, the chief accounting officer owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on TPB shares. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Friday, May 8th. BTIG Research started coverage on shares of Turning Point Brands in a report on Tuesday. They issued a “buy” rating and a $103.00 price objective for the company. Compass Point set a $103.00 price objective on shares of Turning Point Brands in a research report on Tuesday. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings downgraded shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.50.

Turning Point Brands Stock Up 4.4%

Shares of TPB opened at $76.30 on Friday. The company’s 50-day moving average price is $84.14 and its 200 day moving average price is $95.48. Turning Point Brands, Inc. has a 12-month low of $65.80 and a 12-month high of $146.90. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.48 billion, a P/E ratio of 25.95 and a beta of 0.92.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.08. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The company had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. During the same quarter last year, the firm posted $0.91 earnings per share. Turning Point Brands’s revenue was up 16.8% compared to the same quarter last year. On average, sell-side analysts forecast that Turning Point Brands, Inc. will post 1.39 earnings per share for the current year.

Turning Point Brands Dividend Announcement

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

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.