CenterBook Partners LP Purchases Shares of 11,371 Turning Point Brands, Inc. $TPB

CenterBook Partners LP purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,371 shares of the company’s stock, valued at approximately $1,233,000. CenterBook Partners LP owned about 0.06% of Turning Point Brands as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in Turning Point Brands in the third quarter valued at $28,000. Advisory Services Network LLC acquired a new position in Turning Point Brands during the 3rd quarter worth about $28,000. Huntington National Bank lifted its holdings in Turning Point Brands by 54.9% during the 3rd quarter. Huntington National Bank now owns 457 shares of the company’s stock worth $45,000 after buying an additional 162 shares during the period. GAMMA Investing LLC grew its position 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 buying an additional 123 shares during the last quarter. Finally, First Horizon Corp grew its position in shares of Turning Point Brands by 96.0% in the 4th quarter. First Horizon Corp now owns 492 shares of the company’s stock valued at $53,000 after buying an additional 241 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the sale, the chief accounting officer directly owned 9,230 shares in the company, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by corporate insiders.

Turning Point Brands Stock Down 1.2%

Shares of Turning Point Brands stock opened at $80.15 on Thursday. The stock’s 50-day moving average is $83.21 and its 200 day moving average is $100.27. Turning Point Brands, Inc. has a one year low of $65.80 and a one year high of $146.90. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 27.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The business had revenue of $124.28 million during the quarter, compared to the consensus estimate of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. Equities research analysts anticipate that Turning Point Brands, Inc. will post 1.43 EPS for the current year.

Turning Point Brands Announces Dividend

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

Wall Street Analyst Weigh In

TPB has been the subject of a number of analyst reports. Zacks Research downgraded Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Weiss Ratings downgraded shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Turning Point Brands presently has an average rating of “Hold” and a consensus price target of $118.75.

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.