Wellington Management Group LLP Has $12.66 Million Holdings in Turning Point Brands, Inc. $TPB

Wellington Management Group LLP lessened its position in Turning Point Brands, Inc. (NYSE:TPB) by 35.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,267 shares of the company’s stock after selling 80,555 shares during the quarter. Wellington Management Group LLP’s holdings in Turning Point Brands were worth $12,659,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Turning Point Brands by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock valued at $606,000 after purchasing an additional 459 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Turning Point Brands by 1,428.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company’s stock valued at $347,000 after purchasing an additional 4,286 shares during the period. First Trust Advisors LP boosted its stake in Turning Point Brands by 150.8% during the 2nd quarter. First Trust Advisors LP now owns 141,995 shares of the company’s stock valued at $10,759,000 after purchasing an additional 85,378 shares during the period. Baird Financial Group Inc. acquired a new stake in Turning Point Brands in the 2nd quarter valued at approximately $220,000. Finally, Qube Research & Technologies Ltd increased its position in Turning Point Brands by 21.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company’s stock worth $13,852,000 after buying an additional 32,109 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Trading Up 0.4%

Shares of TPB opened at $75.49 on Tuesday. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of $82.75 and a 200-day simple moving average of $87.15. Turning Point Brands, Inc. has a 1 year low of $65.80 and a 1 year high of $146.90. The stock has a market cap of $1.46 billion, a PE ratio of 32.40 and a beta of 0.94.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The company had revenue of $142.96 million for the quarter, compared to the consensus estimate of $129.56 million. During the same quarter in the previous year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, sell-side analysts predict that Turning Point Brands, Inc. will post 1.23 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a $0.08 dividend. The ex-dividend date is Friday, September 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Turning Point Brands’s payout ratio is presently 13.73%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TPB. Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a research report on Friday, August 28th. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a research note on Monday, August 10th. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Finally, Compass Point set a $116.00 price target on shares of Turning Point Brands in a research report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.67.

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.