Crown Advisors Management Inc. Acquires Shares of 15,000 Turning Point Brands, Inc. $TPB

Key Points

• Crown Advisors Management acquired 15,000 shares of Turning Point Brands worth approximately $1.27 million, giving it a 0.08% stake. Institutional investors collectively own 96.12% of the company.
• Turning Point Brands shares opened at $87.17, below the analyst consensus price target of $115.67. Analysts maintain a consensus “Moderate Buy” rating, with four Buy, one Hold, and one Sell recommendation.
• The company declared a quarterly dividend of $0.08 per share, equivalent to $0.32 annually and a 0.4% yield; the dividend is payable October 9 to shareholders of record on September 18.

Crown Advisors Management Inc. bought a new position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,000 shares of the company's stock, valued at approximately $1,272,000. Crown Advisors Management Inc. owned 0.08% of Turning Point Brands at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Turning Point Brands in the 4th quarter valued at approximately $27,000. Empowered Funds LLC purchased a new position in Turning Point Brands during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Turning Point Brands during the 3rd quarter worth approximately $28,000. Advisory Services Network LLC acquired a new stake in Turning Point Brands during the 3rd quarter valued at $28,000. Finally, First Horizon Corp raised its stake in Turning Point Brands by 96.0% during the 4th quarter. First Horizon Corp now owns 492 shares of the company's stock valued at $53,000 after purchasing an additional 241 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Trading Down 0.2%

Shares of NYSE:TPB opened at $87.17 on Monday. The firm has a fifty day moving average of $82.63 and a two-hundred day moving average of $92.15. The company has a quick ratio of 4.16, a current ratio of 5.67 and a debt-to-equity ratio of 0.65. Turning Point Brands, Inc. has a 12-month low of $65.80 and a 12-month high of $146.90. The firm has a market capitalization of $1.69 billion, a P/E ratio of 37.41 and a beta of 0.92.

Turning Point Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TPB. Wall Street Zen raised Turning Point Brands from a "strong sell" rating to a "sell" rating in a research report on Monday, August 10th. Weiss Ratings lowered Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. 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 research note on Friday, May 8th. Compass Point set a $116.00 price objective on Turning Point Brands in a research report on Monday, August 10th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Turning Point Brands in a research note on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Turning Point Brands has a consensus rating of "Moderate Buy" and a consensus price target of $115.67.

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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