1060 Capital LLC Invests $2.11 Million 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 stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 35,558 shares of the company's stock, valued at approximately $2,114,000. Turning Point Brands comprises approximately 4.8% of 1060 Capital LLC's holdings, making the stock its 8th biggest position. 1060 Capital LLC owned 0.20% of Turning Point Brands at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Turning Point Brands during the first quarter valued at about $877,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Turning Point Brands by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company's stock valued at $606,000 after purchasing an additional 459 shares in the last quarter. 4D Advisors LLC bought a new position in shares of Turning Point Brands during the first quarter valued at about $5,647,000. PDT Partners LLC bought a new position in shares of Turning Point Brands during the first quarter valued at about $549,000. Finally, Northern Right Capital Management L.P. lifted its position in shares of Turning Point Brands by 63.9% during the first quarter. Northern Right Capital Management L.P. now owns 220,178 shares of the company's stock valued at $13,087,000 after purchasing an additional 85,824 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TPB has been the topic of several research reports. Oppenheimer lifted their price objective on shares of Turning Point Brands from $85.00 to $98.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Needham & Company LLC initiated coverage on shares of Turning Point Brands in a research report on Friday, August 1st. They issued a "hold" rating on the stock. Zacks Research raised shares of Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen lowered shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $78.83.

Turning Point Brands Price Performance

NYSE:TPB traded up $1.71 during mid-day trading on Friday, hitting $102.39. 307,712 shares of the stock traded hands, compared to its average volume of 308,570. The business's 50-day moving average price is $89.37 and its 200 day moving average price is $74.31. The company has a market cap of $1.85 billion, a PE ratio of 42.84 and a beta of 0.76. Turning Point Brands, Inc. has a 12-month low of $38.50 and a 12-month 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.79 by $0.19. The company had revenue of $116.63 million during the quarter, compared to analysts' expectations of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. Turning Point Brands's revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. On average, analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

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

Insider Buying and Selling

In other Turning Point Brands news, Director Lawrence Wexler sold 25,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director owned 330,186 shares of the company's stock, valued at $25,074,324.84. The trade was a 7.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Wigginton sold 10,800 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.67, for a total transaction of $817,236.00. Following the completion of the transaction, the chief accounting officer directly owned 10,171 shares of the company's stock, valued at approximately $769,639.57. This represents a 51.50% decrease in their position. The disclosure for this sale can be found here. 6.60% of the stock is owned by insiders.

About Turning Point Brands

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.