Turning Point Brands, Inc. $TPB Stock: Vest Financial LLC Increases Holdings

Vest Financial LLC boosted its position in Turning Point Brands, Inc. (NYSE:TPB) by 12.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,710 shares of the company’s stock after acquiring an additional 8,664 shares during the quarter. Vest Financial LLC owned 0.41% of Turning Point Brands worth $4,679,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Turning Point Brands in the 2nd quarter valued at $137,273,000. Bank of America Corp DE acquired a new position in Turning Point Brands during the 2nd quarter worth about $47,278,000. Maple Rock Capital Partners Inc. lifted its holdings in Turning Point Brands by 57.5% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company’s stock worth $58,248,000 after buying an additional 250,800 shares during the period. Copeland Capital Management LLC grew its position in shares of Turning Point Brands by 99.4% in the 1st quarter. Copeland Capital Management LLC now owns 407,208 shares of the company’s stock valued at $35,342,000 after buying an additional 203,020 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Turning Point Brands by 39.6% in the 1st quarter. First Trust Advisors LP now owns 689,905 shares of the company’s stock valued at $59,877,000 after buying an additional 195,643 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BTIG Research reissued a “buy” rating on shares of Turning Point Brands in a research report on Monday, August 10th. Compass Point set a $116.00 price objective on shares of Turning Point Brands in a research report on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a research report on Friday, August 28th. Oppenheimer cut their price target on Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, September 22nd. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Turning Point Brands presently has an average rating of “Moderate Buy” and a consensus target price of $109.00.

Turning Point Brands Stock Performance

NYSE:TPB opened at $64.12 on Friday. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 27.52 and a beta of 0.97. Turning Point Brands, Inc. has a 1-year low of $54.17 and a 1-year high of $146.90. The business has a 50 day moving average of $69.14 and a 200 day moving average of $78.31. 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 (NYSE:TPB) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.11. The business had revenue of $142.96 million for the quarter, compared to analysts’ expectations of $129.56 million. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%. The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. On average, sell-side analysts predict that Turning Point Brands, Inc. will post 1.19 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, September 18th. Turning Point Brands’s payout ratio is 13.73%.

Turning Point Brands Profile

Turning Point Brands, Inc is a consumer products company focused on the manufacture, marketing and distribution of branded products for adult consumers. Its portfolio includes rolling papers, wraps, cigarette papers, smoking accessories, smokeless tobacco and modern oral nicotine products.

The company’s principal brands include Zig-Zag, a long-standing brand of rolling papers and related accessories, and Stoker’s, which offers moist smokeless tobacco and other tobacco products. Turning Point Brands also develops and markets newer nicotine products, including nicotine pouches, through its NewGen Products business.

Turning Point Brands serves retailers and consumers primarily in the United States through convenience stores, tobacco and specialty retailers, mass merchants, e-commerce channels and other distribution networks.