SG Americas Securities LLC Decreases Holdings in Turning Point Brands, Inc. $TPB

SG Americas Securities LLC decreased its stake in Turning Point Brands, Inc. (NYSE:TPB) by 68.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,495 shares of the company’s stock after selling 7,715 shares during the quarter. SG Americas Securities LLC’s holdings in Turning Point Brands were worth $303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Turning Point Brands by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company’s stock valued at $157,331,000 after buying an additional 61,311 shares in the last quarter. Divisadero Street Capital Management LP raised its holdings in shares of Turning Point Brands by 3.2% during the third quarter. Divisadero Street Capital Management LP now owns 974,066 shares of the company’s stock valued at $96,296,000 after acquiring an additional 30,282 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in shares of Turning Point Brands by 28.9% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company’s stock valued at $94,281,000 after acquiring an additional 194,938 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Turning Point Brands by 4.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company’s stock valued at $91,820,000 after acquiring an additional 38,437 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Turning Point Brands by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 541,667 shares of the company’s stock valued at $58,728,000 after acquiring an additional 28,463 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Down 0.7%

Shares of NYSE TPB opened at $87.47 on Friday. The stock has a market cap of $1.69 billion, a PE ratio of 29.75 and a beta of 0.92. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76. Turning Point Brands, Inc. has a 12-month low of $65.80 and a 12-month high of $146.90. The company has a 50-day moving average of $85.91 and a 200 day moving average of $97.45.

Turning Point Brands (NYSE:TPB) last released 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 for the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The business’s revenue was up 16.8% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. As a group, sell-side analysts predict that Turning Point Brands, Inc. will post 1.39 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

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

Wall Street Analysts Forecast Growth

TPB has been the subject of several research reports. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Friday, May 8th. Weiss Ratings lowered Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Finally, Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Three 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $118.75.

Insiders Place Their Bets

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 stock was sold at an average price of $91.67, for a total transaction of $366,680.00. Following the transaction, the chief accounting officer owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.