Militia Capital Management LLC Acquires New Position in Turning Point Brands, Inc. $TPB

Militia Capital Management LLC bought a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,000 shares of the company’s stock, valued at approximately $3,472,000. Militia Capital Management LLC owned about 0.21% of Turning Point Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPB. Norris Financial Group LLC acquired a new position in Turning Point Brands in the 1st quarter valued at $4,151,000. Bank of America Corp DE boosted its holdings in shares of Turning Point Brands by 66.9% during the first quarter. Bank of America Corp DE now owns 290,813 shares of the company’s stock worth $25,240,000 after purchasing an additional 116,543 shares during the last quarter. Riposte Capital LLC boosted its holdings in shares of Turning Point Brands by 50.0% during the first quarter. Riposte Capital LLC now owns 150,000 shares of the company’s stock worth $13,018,000 after purchasing an additional 50,000 shares during the last quarter. Royal Bank of Canada grew its position in shares of Turning Point Brands by 23.9% in the first quarter. Royal Bank of Canada now owns 16,811 shares of the company’s stock valued at $1,459,000 after purchasing an additional 3,243 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Turning Point Brands by 3.3% in the first quarter. The Manufacturers Life Insurance Company now owns 8,784 shares of the company’s stock valued at $762,000 after purchasing an additional 282 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 sale, the chief accounting officer owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This represents a 30.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.40% of the company’s stock.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock opened at $74.90 on Monday. The business’s fifty day moving average price is $82.88 and its 200 day moving average price is $94.39. Turning Point Brands, Inc. has a twelve month low of $65.80 and a twelve 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 stock has a market capitalization of $1.45 billion, a P/E ratio of 25.48 and a beta of 0.92.

Turning Point Brands (NYSE:TPB) last announced its quarterly 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 during the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. As a group, research analysts anticipate that Turning Point Brands, Inc. will post 1.39 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, September 18th. 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 10.88%.

Wall Street Analyst Weigh In

Several research firms recently commented on TPB. Weiss Ratings lowered Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Friday, May 8th. Compass Point set a $103.00 price target on Turning Point Brands in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of Turning Point Brands from a “sell” rating to a “strong sell” rating in a research note on Sunday. Finally, BTIG Research initiated coverage on shares of Turning Point Brands in a report on Tuesday, July 21st. They set a “buy” rating and a $103.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.50.

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.