Aristides Capital LLC Has $8.95 Million Position in Turning Point Brands, Inc. $TPB

Aristides Capital LLC increased its stake in Turning Point Brands, Inc. (NYSE:TPB) by 19.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 103,164 shares of the company’s stock after acquiring an additional 17,154 shares during the period. Turning Point Brands comprises 1.5% of Aristides Capital LLC’s investment portfolio, making the stock its 11th biggest position. Aristides Capital LLC’s holdings in Turning Point Brands were worth $8,954,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TPB. Empowered Funds LLC bought a new position in Turning Point Brands in the 4th quarter valued at $27,000. Kemnay Advisory Services Inc. bought a new stake in shares of Turning Point Brands during the fourth quarter worth $27,000. Advisory Services Network LLC bought a new stake in shares of Turning Point Brands during the third quarter worth $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Turning Point Brands during the third quarter valued at $28,000. Finally, GAMMA Investing LLC lifted its stake in shares of Turning Point Brands by 33.4% during the fourth quarter. GAMMA Investing LLC now owns 491 shares of the company’s stock valued at $53,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TPB. Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Friday, May 8th. BTIG Research started coverage on shares of Turning Point Brands in a research note on Tuesday. They issued a “buy” rating and a $103.00 target price on the stock. 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. 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. Finally, Compass Point set a $103.00 price target on shares of Turning Point Brands in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Turning Point Brands presently has an average rating of “Moderate Buy” and an average price target of $113.50.

Insiders Place Their Bets

In related news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 9,230 shares in the company, valued at approximately $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.40% of the stock is owned by insiders.

Turning Point Brands Trading Down 7.1%

NYSE:TPB opened at $72.86 on Friday. Turning Point Brands, Inc. has a 1-year low of $65.80 and a 1-year high of $146.90. The business’s 50-day moving average price is $84.41 and its two-hundred day moving average price is $95.62. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 24.78 and a beta of 0.92.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. The company had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. On average, equities analysts expect that Turning Point Brands, Inc. will post 1.39 earnings per share for the current year.

Turning Point Brands Dividend Announcement

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

About Turning Point Brands

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.