Sei Investments Co. Purchases 21,805 Shares of Turning Point Brands, Inc. $TPB

Sei Investments Co. boosted its position in Turning Point Brands, Inc. (NYSE:TPB) by 46.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,676 shares of the company’s stock after purchasing an additional 21,805 shares during the period. Sei Investments Co. owned about 0.35% of Turning Point Brands worth $5,960,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Turning Point Brands by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock worth $606,000 after purchasing an additional 459 shares during the period. Russell Investments Group Ltd. grew its position in Turning Point Brands by 1,428.7% during the second quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company’s stock valued at $347,000 after buying an additional 4,286 shares during the period. First Trust Advisors LP increased its holdings in Turning Point Brands by 150.8% during the second quarter. First Trust Advisors LP now owns 141,995 shares of the company’s stock valued at $10,759,000 after buying an additional 85,378 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in Turning Point Brands during the second quarter valued at approximately $220,000. Finally, Qube Research & Technologies Ltd raised its position in Turning Point Brands by 21.3% in the second quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company’s stock worth $13,852,000 after acquiring an additional 32,109 shares during the period. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $82.78 on Wednesday. The company has a market capitalization of $1.60 billion, a P/E ratio of 28.16 and a beta of 0.91. Turning Point Brands, Inc. has a 1-year low of $65.80 and a 1-year high of $146.90. The firm’s 50 day simple moving average is $82.56 and its two-hundred day simple moving average is $93.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $124.28 million during the quarter, compared to analysts’ expectations of $115.67 million. During the same period in the prior year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Research analysts expect that Turning Point Brands, Inc. will post 1.39 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.88%.

Insider Activity at Turning Point Brands

In other news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the transaction, the chief accounting officer directly owned 9,230 shares in the company, valued at $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Needham & Company LLC upgraded shares of 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. Weiss Ratings cut Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Wall Street Zen downgraded Turning Point Brands from a “sell” rating to a “strong sell” rating in a research report on Sunday. BTIG Research initiated coverage on Turning Point Brands in a research report on Tuesday, July 21st. They set a “buy” rating and a $103.00 target price on the stock. Finally, Compass Point set a $103.00 price target on Turning Point Brands in a report on Tuesday, July 21st. One investment 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 an average rating of “Moderate Buy” and an average price target of $113.50.

Turning Point Brands Company 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.