AWH Capital L.P. Acquires New Position in Turning Point Brands, Inc. $TPB

Key Points

• AWH Capital acquired 76,950 shares of Turning Point Brands worth approximately $6.5 million, representing about 0.40% of TPB. Institutional investors collectively own 96.12% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $115.67, compared with the stock’s reported opening price of $84.34.
• Turning Point Brands exceeded quarterly expectations, reporting $0.23 in EPS versus a $0.12 estimate and 22.6% year-over-year revenue growth. The company also declared a quarterly dividend of $0.08 per share, yielding 0.4% annually.

AWH Capital L.P. acquired a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 76,950 shares of the company's stock, valued at approximately $6,526,130. Turning Point Brands accounts for approximately 0.0% of AWH Capital L.P.'s portfolio, making the stock its 7th biggest position. AWH Capital L.P. owned approximately 0.40% of Turning Point Brands at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Turning Point Brands by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company's stock valued at $606,000 after acquiring an additional 459 shares during the period. Russell Investments Group Ltd. lifted its holdings in Turning Point Brands by 1,428.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company's stock worth $347,000 after purchasing an additional 4,286 shares in the last quarter. First Trust Advisors LP lifted its holdings in Turning Point Brands by 150.8% in the 2nd quarter. First Trust Advisors LP now owns 141,995 shares of the company's stock worth $10,759,000 after purchasing an additional 85,378 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Turning Point Brands in the 2nd quarter worth approximately $220,000. Finally, Qube Research & Technologies Ltd lifted 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 worth $13,852,000 after purchasing an additional 32,109 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on TPB shares. Compass Point set a $116.00 price target on Turning Point Brands in a report on Monday, August 10th. Wall Street Zen raised Turning Point Brands from a "strong sell" rating to a "sell" rating in a report on Monday, August 10th. BTIG Research reissued a "buy" rating on shares of Turning Point Brands in a report on Monday, August 10th. Weiss Ratings cut Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Finally, Needham & Company LLC raised 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. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Turning Point Brands currently has an average rating of "Moderate Buy" and a consensus price target of $115.67.

Turning Point Brands Stock Up 0.1%

Shares of TPB opened at $84.34 on Friday. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 36.20 and a beta of 0.91. 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 simple moving average is $83.41 and its 200-day simple moving average is $89.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.11. The business had revenue of $142.96 million for the quarter, compared to analysts' expectations of $129.56 million. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%.The company's revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. As a group, equities analysts expect that Turning Point Brands, Inc. will post 1.23 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, September 18th. Turning Point Brands's dividend payout ratio is 13.73%.

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.

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