Turning Point Brands, Inc. $TPB Shares Bought by Deutsche Bank AG

Key Points

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Deutsche Bank AG increased its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 232.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,132 shares of the company's stock after acquiring an additional 37,827 shares during the quarter. Deutsche Bank AG owned about 0.30% of Turning Point Brands worth $3,218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of TPB. Virtus Fund Advisers LLC acquired a new position in Turning Point Brands in the 4th quarter valued at about $48,000. Sunbelt Securities Inc. acquired a new position in Turning Point Brands in the 4th quarter valued at about $96,000. Tower Research Capital LLC TRC boosted its holdings in Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after purchasing an additional 532 shares during the last quarter. Baird Financial Group Inc. acquired a new position in Turning Point Brands in the 4th quarter valued at about $201,000. Finally, Prescott General Partners LLC acquired a new position in Turning Point Brands in the 4th quarter valued at about $210,000. 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 recent analyst reports. Needham & Company LLC initiated coverage on shares of Turning Point Brands in a report on Friday, August 1st. They issued a "hold" rating on the stock. Oppenheimer boosted their target price 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. Wall Street Zen lowered shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Zacks Research upgraded shares of Turning Point Brands from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Turning Point Brands currently has an average rating of "Buy" and an average target price of $78.83.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, SVP Brittani Cushman sold 7,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $74.36, for a total transaction of $557,700.00. Following the sale, the senior vice president directly owned 34,687 shares in the company, valued at $2,579,325.32. This represents a 17.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lawrence Wexler sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $75.94, for a total transaction of $1,898,500.00. Following the sale, the director owned 330,186 shares in the company, valued at approximately $25,074,324.84. This trade represents a 7.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,300 shares of company stock worth $8,291,282 over the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Turning Point Brands Trading Down 0.5%

Shares of TPB stock traded down $0.5250 during trading hours on Friday, hitting $98.7250. The company had a trading volume of 372,202 shares, compared to its average volume of 448,325. The company's fifty day moving average is $81.96 and its 200 day moving average is $71.15. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.22 and a quick ratio of 2.67. Turning Point Brands, Inc. has a fifty-two week low of $38.08 and a fifty-two week high of $102.90. The stock has a market capitalization of $1.78 billion, a PE ratio of 41.31 and a beta of 0.66.

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, topping the consensus estimate of $0.79 by $0.19. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The firm had revenue of $116.63 million for the quarter, compared to analyst estimates of $107.30 million. During the same period in the prior year, the business posted $0.68 EPS. The business's revenue for the quarter was up 25.1% compared to the same quarter last year. Research analysts expect that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

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

Turning Point Brands Company 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.