SG Americas Securities LLC Sells 19,605 Shares of Turning Point Brands, Inc. $TPB

SG Americas Securities LLC decreased its position in Turning Point Brands, Inc. (NYSE:TPB) by 63.6% during the fourth quarter, HoldingsChannel reports. The firm owned 11,210 shares of the company’s stock after selling 19,605 shares during the quarter. SG Americas Securities LLC’s holdings in Turning Point Brands were worth $1,215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in Turning Point Brands by 2.2% during the third quarter. Arizona State Retirement System now owns 5,297 shares of the company’s stock worth $524,000 after buying an additional 114 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Turning Point Brands by 33.4% in the 4th quarter. GAMMA Investing LLC now owns 491 shares of the company’s stock valued at $53,000 after purchasing an additional 123 shares in the last quarter. Huntington National Bank boosted its stake in shares of Turning Point Brands by 54.9% in the 3rd quarter. Huntington National Bank now owns 457 shares of the company’s stock valued at $45,000 after purchasing an additional 162 shares in the last quarter. Boston Partners boosted its stake in shares of Turning Point Brands by 1.5% in the 3rd quarter. Boston Partners now owns 13,712 shares of the company’s stock valued at $1,356,000 after purchasing an additional 206 shares in the last quarter. Finally, Level Four Advisory Services LLC boosted its stake in shares of Turning Point Brands by 7.9% in the 3rd quarter. Level Four Advisory Services LLC now owns 3,048 shares of the company’s stock valued at $301,000 after purchasing an additional 224 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Oppenheimer restated an “outperform” rating and issued a $130.00 target price on shares of Turning Point Brands in a research note on Wednesday, January 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Zacks Research downgraded shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Three 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 company. According to data from MarketBeat.com, Turning Point Brands currently has a consensus rating of “Hold” and an average price target of $116.67.

Insiders Place Their Bets

In other Turning Point Brands news, CFO Andrew Flynn sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total value of $195,140.00. Following the transaction, the chief financial officer directly owned 9,443 shares in the company, valued at $921,353.51. This represents a 17.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.60% of the stock is owned by corporate insiders.

Turning Point Brands Price Performance

NYSE TPB opened at $71.54 on Wednesday. The business has a 50 day simple moving average of $107.36 and a 200 day simple moving average of $103.38. Turning Point Brands, Inc. has a 52-week low of $53.62 and a 52-week high of $146.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.12 and a current ratio of 5.56. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 22.86 and a beta of 1.02.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be issued a dividend of $0.08 per share. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands’s payout ratio is currently 10.22%.

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.