Deutsche Bank AG Invests $1.70 Million in Turning Point Brands, Inc. $TPB

Deutsche Bank AG acquired a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 20,016 shares of the company’s stock, valued at approximately $1,698,000.

A number of other hedge funds have also bought and sold shares of the company. Empowered Funds LLC acquired a new position in Turning Point Brands in the fourth quarter valued at $27,000. Kemnay Advisory Services Inc. acquired a new stake in Turning Point Brands during the 4th quarter worth about $27,000. Advisory Services Network LLC bought a new position in shares of Turning Point Brands in the 3rd quarter worth about $28,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Turning Point Brands in the 3rd quarter worth about $28,000. Finally, Covestor Ltd lifted its stake in shares of Turning Point Brands by 16.3% in the 4th quarter. Covestor Ltd now owns 663 shares of the company’s stock valued at $72,000 after purchasing an additional 93 shares during the period. Institutional investors own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TPB shares. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Monday, August 10th. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Weiss Ratings lowered Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Compass Point set a $116.00 price target on Turning Point Brands in a report on Monday, August 10th. Finally, Needham & Company LLC raised shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Turning Point Brands presently has an average rating of “Moderate Buy” and a consensus target price of $115.67.

Turning Point Brands Stock Up 0.1%

TPB stock opened at $84.34 on Friday. The firm has a market capitalization of $1.63 billion, a PE ratio of 36.20 and a beta of 0.91. The company has a quick ratio of 4.16, a current ratio of 5.67 and a debt-to-equity ratio of 0.65. Turning Point Brands, Inc. has a twelve month low of $65.80 and a twelve month high of $146.90. The stock’s 50 day moving average is $83.41 and its 200-day moving average is $89.64.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.11. The business had revenue of $142.96 million during the quarter, compared to the consensus estimate of $129.56 million. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%.Turning Point Brands’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share. Sell-side analysts expect that Turning Point Brands, Inc. will post 1.23 EPS for the current fiscal 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 $0.08 dividend. The ex-dividend date is Friday, September 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Turning Point Brands’s dividend payout ratio is currently 13.73%.

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.