1060 Capital LLC Makes New $2.11 Million Investment in Turning Point Brands, Inc. $TPB

Key Points

• 1060 Capital LLC has invested approximately $2.11 million in Turning Point Brands, acquiring 35,558 shares, which now represent 4.8% of its investment portfolio.
• Turning Point Brands reported **quarterly earnings** of **$0.98** per share, exceeding estimates and showcasing a **25.1% increase in revenue** compared to the prior year.
• The company will pay a quarterly dividend of **$0.075** to investors of record, reflecting a **0.3% dividend yield** and a low payout ratio of **12.55%**.

1060 Capital LLC acquired a new position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 35,558 shares of the company's stock, valued at approximately $2,114,000. Turning Point Brands accounts for approximately 4.8% of 1060 Capital LLC's investment portfolio, making the stock its 8th biggest position. 1060 Capital LLC owned approximately 0.20% of Turning Point Brands at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TPB. Virtus Fund Advisers LLC acquired a new position in Turning Point Brands in the fourth quarter worth $48,000. Sunbelt Securities Inc. acquired a new position in Turning Point Brands in the fourth quarter worth $96,000. Baird Financial Group Inc. acquired a new position in Turning Point Brands in the fourth quarter worth $201,000. Prescott General Partners LLC acquired a new position in Turning Point Brands in the fourth quarter worth $210,000. Finally, IFP Advisors Inc boosted its holdings in Turning Point Brands by 97,250.0% in the first quarter. IFP Advisors Inc now owns 3,894 shares of the company's stock worth $231,000 after purchasing an additional 3,890 shares during the period. Institutional investors and hedge funds own 96.12% of the company's stock.

Turning Point Brands Stock Performance

TPB stock opened at $98.47 on Tuesday. The company has a market capitalization of $1.77 billion, a P/E ratio of 41.20 and a beta of 0.76. The company has a 50-day simple moving average of $87.22 and a 200 day simple moving average of $73.46. Turning Point Brands, Inc. has a fifty-two week low of $38.08 and a fifty-two week high of $102.90. The company has a quick ratio of 2.67, a current ratio of 4.22 and a debt-to-equity ratio of 1.30.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.19. The business had revenue of $116.63 million during the quarter, compared to the consensus estimate of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The company's quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. Sell-side analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 19th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $0.30 annualized dividend and a yield of 0.3%. Turning Point Brands's dividend payout ratio is presently 12.55%.

Insider Buying and Selling

In related news, Director Lawrence Wexler sold 25,000 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $75.94, for a total value of $1,898,500.00. Following the completion of the sale, the director owned 330,186 shares of the company's stock, valued at $25,074,324.84. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Graham Purdy sold 21,400 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $74.89, for a total transaction of $1,602,646.00. Following the completion of the sale, the chief executive officer directly owned 227,466 shares of the company's stock, valued at $17,034,928.74. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,200 shares of company stock valued at $6,569,282 over the last 90 days. 6.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TPB has been the subject of a number of research reports. Needham & Company LLC started coverage on shares of Turning Point Brands in a report on Friday, August 1st. They issued a "hold" rating for the company. Wall Street Zen downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Zacks Research raised shares of Turning Point Brands from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Finally, Oppenheimer boosted their price target on shares of Turning Point Brands from $85.00 to $98.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $78.83.

Turning Point Brands Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.

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