Turning Point Brands, Inc. $TPB Shares Bought by Apis Capital Advisors LLC

Apis Capital Advisors LLC raised its position in Turning Point Brands, Inc. (NYSE:TPB) by 186.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 164,377 shares of the company’s stock after acquiring an additional 106,948 shares during the quarter. Turning Point Brands makes up about 3.1% of Apis Capital Advisors LLC’s holdings, making the stock its 12th largest holding. Apis Capital Advisors LLC’s holdings in Turning Point Brands were worth $17,818,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Turning Point Brands by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company’s stock valued at $157,331,000 after buying an additional 61,311 shares during the period. Divisadero Street Capital Management LP increased its stake in Turning Point Brands by 3.2% in the 3rd quarter. Divisadero Street Capital Management LP now owns 974,066 shares of the company’s stock valued at $96,296,000 after buying an additional 30,282 shares during the period. ArrowMark Colorado Holdings LLC increased its stake in Turning Point Brands by 28.9% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company’s stock valued at $94,281,000 after buying an additional 194,938 shares during the period. Thrivent Financial for Lutherans increased its stake in Turning Point Brands by 4.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company’s stock valued at $91,820,000 after buying an additional 38,437 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Turning Point Brands by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 541,667 shares of the company’s stock worth $58,728,000 after purchasing an additional 28,463 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TPB shares. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Zacks Research cut shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Weiss Ratings cut shares of 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 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. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Turning Point Brands presently has a consensus rating of “Hold” and an average target price of $118.75.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $79.55 on Thursday. Turning Point Brands, Inc. has a 52 week low of $65.80 and a 52 week high of $146.90. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $83.78 and its 200 day simple moving average is $99.67. The firm has a market capitalization of $1.54 billion, a PE ratio of 27.06 and a beta of 0.92.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate 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 business had revenue of $124.28 million for the quarter, compared to analyst estimates of $115.67 million. During the same period in the previous year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, equities research analysts predict that Turning Point Brands, Inc. will post 1.43 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be given a $0.08 dividend. The ex-dividend date is Thursday, June 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Turning Point Brands’s payout ratio is currently 10.88%.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were 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 approximately $846,114.10. This represents a 30.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.40% of the stock is owned by corporate insiders.

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.