The Manufacturers Life Insurance Company Makes New $808,000 Investment in Turning Point Brands, Inc. $TPB

The Manufacturers Life Insurance Company acquired a new stake in Turning Point Brands, Inc. (NYSE:TPB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,529 shares of the company’s stock, valued at approximately $808,000.

Other institutional investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new stake in Turning Point Brands during the 4th quarter worth approximately $27,000. Empowered Funds LLC purchased a new position in Turning Point Brands in the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Turning Point Brands in the third quarter worth $28,000. Advisory Services Network LLC acquired a new position in shares of Turning Point Brands in the third quarter worth $28,000. Finally, Covestor Ltd increased its position in shares of Turning Point Brands by 16.3% during the fourth quarter. Covestor Ltd now owns 663 shares of the company’s stock worth $72,000 after acquiring an additional 93 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TPB. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Compass Point set a $116.00 price target on Turning Point Brands in a report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turning Point Brands in a research report on Friday, August 28th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.67.

Turning Point Brands Trading Down 1.9%

Shares of NYSE:TPB opened at $75.49 on Friday. Turning Point Brands, Inc. has a 52 week low of $65.80 and a 52 week high of $146.90. The company’s 50 day moving average is $82.94 and its two-hundred day moving average is $87.86. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.46 billion, a PE ratio of 32.40 and a beta of 0.94.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data 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 analysts’ expectations of $129.56 million. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 EPS. Equities analysts predict that Turning Point Brands, Inc. will post 1.23 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

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. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, September 18th. Turning Point Brands’s payout ratio is 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.