Osterweis Capital Management Inc. Invests $6.45 Million in Turning Point Brands, Inc. $TPB

Osterweis Capital Management Inc. acquired a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 76,076 shares of the company’s stock, valued at approximately $6,452,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new position in Turning Point Brands during the fourth quarter worth about $27,000. Empowered Funds LLC bought a new position in shares of Turning Point Brands in the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at approximately $28,000. Advisory Services Network LLC acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at approximately $28,000. Finally, Covestor Ltd grew its holdings in shares of Turning Point Brands by 16.3% during 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 last quarter. Institutional investors own 96.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TPB. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a research report on Monday, August 10th. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. Compass Point set a $116.00 price target on shares of Turning Point Brands in a report on Monday, August 10th. Weiss Ratings cut Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a 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 data from MarketBeat, Turning Point Brands presently has a consensus rating of “Moderate Buy” and an average target price of $115.67.

Turning Point Brands Stock Down 0.1%

Shares of NYSE TPB opened at $83.33 on Tuesday. The company has a 50 day simple moving average of $83.09 and a 200 day simple moving average of $90.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16. Turning Point Brands, Inc. has a 1 year low of $65.80 and a 1 year high of $146.90. The firm has a market cap of $1.61 billion, a PE ratio of 35.76 and a beta of 0.92.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $142.96 million for the quarter, compared to analyst estimates of $129.56 million. During the same period in the previous year, the firm posted $0.98 EPS. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, research analysts forecast that Turning Point Brands, Inc. will post 1.23 EPS for the current year.

Turning Point Brands Announces Dividend

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

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.