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

Key Points

• Aristides Capital LLC increased its Turning Point Brands stake by 19.9% in Q1, bringing its holdings to 103,164 shares worth about $8.95 million. The position now makes up roughly 1.5% of the fund’s portfolio.
• Turning Point Brands reported better-than-expected results for its latest quarter, posting EPS of $0.76 versus the $0.68 estimate and revenue of $124.28 million versus $115.67 million expected. Revenue rose 16.8% year over year.
• Analyst sentiment remains mostly positive, with a consensus rating of “Moderate Buy” and an average price target of $113.50. The stock was trading at $72.86, well below the consensus target, while the company also pays a small quarterly dividend yielding about 0.4%.

Aristides Capital LLC raised its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 19.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,164 shares of the company's stock after purchasing an additional 17,154 shares during the period. Turning Point Brands makes up approximately 1.5% of Aristides Capital LLC's holdings, making the stock its 11th biggest position. Aristides Capital LLC owned 0.53% of Turning Point Brands worth $8,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Turning Point Brands by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company's stock valued at $606,000 after buying an additional 459 shares during the period. Russell Investments Group Ltd. increased its stake in 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 acquiring an additional 4,286 shares during the period. First Trust Advisors LP increased its stake in Turning Point Brands by 150.8% during the second quarter. First Trust Advisors LP now owns 141,995 shares of the company's stock valued at $10,759,000 after acquiring an additional 85,378 shares during the period. Baird Financial Group Inc. acquired a new position in Turning Point Brands in the 2nd quarter valued at approximately $220,000. Finally, Qube Research & Technologies Ltd raised its holdings in Turning Point Brands by 21.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company's stock valued at $13,852,000 after acquiring an additional 32,109 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Brian Wigginton sold 4,000 shares of the firm'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 completion of the sale, the chief accounting officer directly owned 9,230 shares of the company's stock, valued at $846,114.10. This trade represents a 30.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TPB has been the topic of a number of research reports. Compass Point set a $103.00 price objective on Turning Point Brands in a research report on Tuesday. Weiss Ratings cut Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Wall Street Zen raised shares of Turning Point Brands from a "strong sell" rating to a "sell" rating in a report on Saturday, June 6th. Needham & Company LLC raised shares of Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 price target on the stock in a report on Friday, May 8th. Finally, 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 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Turning Point Brands currently has an average rating of "Moderate Buy" and a consensus price target of $113.50.

Turning Point Brands Stock Performance

Shares of NYSE:TPB opened at $72.86 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05. The business's fifty day moving average price is $84.41 and its two-hundred day moving average price is $95.62. Turning Point Brands, Inc. has a fifty-two week low of $65.80 and a fifty-two week high of $146.90. The stock 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 - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.08. The company had revenue of $124.28 million during the quarter, compared to analysts' expectations of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The business's revenue was up 16.8% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. As a group, analysts predict that Turning Point Brands, Inc. will post 1.39 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently declared 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 is 10.88%.

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.

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