Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $858,000 in Turning Point Brands, Inc. $TPB

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 9,888 shares of the company’s stock, valued at approximately $858,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned approximately 0.05% of Turning Point Brands as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Turning Point Brands by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock worth $606,000 after purchasing an additional 459 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Turning Point Brands by 1,428.7% during the second quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company’s stock valued at $347,000 after purchasing an additional 4,286 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Turning Point Brands by 150.8% during the second quarter. First Trust Advisors LP now owns 141,995 shares of the company’s stock worth $10,759,000 after purchasing an additional 85,378 shares during the last quarter. Baird Financial Group Inc. bought a new stake in shares of Turning Point Brands during the second quarter worth about $220,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of Turning Point Brands by 21.3% in the second quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company’s stock valued at $13,852,000 after buying an additional 32,109 shares during the period. Institutional investors own 96.12% of the company’s stock.

Insider Activity

In other news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the completion of the sale, the chief accounting officer directly owned 9,230 shares of the company’s stock, valued at $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.40% of the stock is currently owned by corporate insiders.

Turning Point Brands Stock Down 0.1%

Shares of NYSE TPB opened at $85.85 on Friday. The firm has a market cap of $1.66 billion, a PE ratio of 29.20 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’s fifty day simple moving average is $84.95 and its 200 day simple moving average is $98.22. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating 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 firm had revenue of $124.28 million during the quarter, compared to the consensus estimate of $115.67 million. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Turning Point Brands, Inc. will post 1.39 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders 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 of this dividend is Thursday, June 18th. Turning Point Brands’s dividend payout ratio is presently 10.88%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TPB shares. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Friday, May 8th. 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. Finally, Weiss Ratings downgraded shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.