Deutsche Bank AG Raises Stock Holdings in Turning Point Brands, Inc. $TPB

Key Points

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Deutsche Bank AG grew its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 232.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 hedge funds also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. bought a new stake in Turning Point Brands in the first quarter worth about $3,921,000. Y Intercept Hong Kong Ltd purchased a new position in Turning Point Brands during the 1st quarter valued at $325,000. IFP Advisors Inc grew its position in Turning Point Brands by 97,250.0% in the 1st quarter. IFP Advisors Inc now owns 3,894 shares of the company's stock valued at $231,000 after acquiring an additional 3,890 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Turning Point Brands by 4.1% during the first quarter. Arizona State Retirement System now owns 5,083 shares of the company's stock worth $302,000 after purchasing an additional 199 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of Turning Point Brands by 12.1% in the first quarter. Linden Thomas Advisory Services LLC now owns 29,988 shares of the company's stock worth $1,782,000 after purchasing an additional 3,231 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Stock Up 0.3%

NYSE TPB traded up $0.2620 on Friday, hitting $99.5120. The stock had a trading volume of 256,569 shares, compared to its average volume of 272,063. Turning Point Brands, Inc. has a 52-week low of $38.08 and a 52-week high of $102.90. The business's fifty day moving average price is $81.49 and its 200 day moving average price is $70.83. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.22 and a quick ratio of 2.67. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 41.71 and a beta of 0.66.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.19. The firm had revenue of $116.63 million for the quarter, compared to the consensus estimate of $107.30 million. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.During the same period in the previous year, the business earned $0.68 EPS. The firm's revenue for the quarter was up 25.1% on a year-over-year basis. Equities research analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 19th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend 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 (DPR) is currently 12.55%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen cut Turning Point Brands from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. 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. Oppenheimer boosted their price target 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. Finally, Needham & Company LLC initiated coverage on shares of Turning Point Brands in a research note on Friday, August 1st. They set a "hold" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $78.83.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Lawrence Wexler sold 25,000 shares of Turning Point Brands stock in a transaction dated 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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Brian Wigginton sold 10,800 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.67, for a total value of $817,236.00. Following the completion of the sale, the chief accounting officer owned 10,171 shares in the company, valued at $769,639.57. The trade was a 51.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,300 shares of company stock worth $8,291,282. Corporate insiders own 6.60% of the company's stock.

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.