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

Apis Capital Advisors LLC raised its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 186.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,377 shares of the company’s stock after acquiring an additional 106,948 shares during the period. Turning Point Brands makes up 3.1% of Apis Capital Advisors LLC’s holdings, making the stock its 12th biggest holding. Apis Capital Advisors LLC owned approximately 0.86% of Turning Point Brands worth $17,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Aristeia Capital L.L.C. purchased a new position in Turning Point Brands in the fourth quarter worth approximately $353,000. AWH Capital L.P. lifted its position in shares of Turning Point Brands by 45.1% during the 4th quarter. AWH Capital L.P. now owns 69,450 shares of the company’s stock worth $7,528,000 after buying an additional 21,600 shares during the last quarter. 4D Advisors LLC lifted its position in shares of Turning Point Brands by 15.0% during the 4th quarter. 4D Advisors LLC now owns 115,000 shares of the company’s stock worth $12,466,000 after buying an additional 15,000 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Turning Point Brands by 4.4% during the 4th quarter. AQR Capital Management LLC now owns 67,526 shares of the company’s stock worth $7,320,000 after buying an additional 2,874 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $349,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $79.55 on Thursday. The firm’s fifty day simple moving average is $83.78 and its 200-day simple moving average is $99.67. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 27.06 and a beta of 0.92. Turning Point Brands, Inc. has a 12 month low of $65.80 and a 12 month high of $146.90. 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 announced its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The business had revenue of $124.28 million for the quarter, compared to analysts’ expectations of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. As a group, equities analysts forecast that Turning Point Brands, Inc. will post 1.43 earnings per share for the current year.

Turning Point Brands Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. 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. 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. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Friday, May 8th. Finally, Zacks Research downgraded shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $118.75.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the business’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 transaction, the chief accounting officer directly owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. The trade was a 30.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.40% of the company’s stock.

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.