Deutsche Bank AG Invests $1.70 Million in Turning Point Brands, Inc. $TPB

Key Points

• Deutsche Bank acquired 20,016 shares of Turning Point Brands worth approximately $1.70 million, joining other institutional investors that collectively own 96.12% of the company.
• Turning Point Brands reported quarterly EPS of $0.23, beating estimates of $0.12, while revenue rose 22.6% year over year to $142.96 million.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $115.67 versus the stock’s reported price of $84.34; the company also declared a quarterly dividend of $0.08 per share.

Deutsche Bank AG acquired a new stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,016 shares of the company's stock, valued at approximately $1,698,000. Deutsche Bank AG owned approximately 0.10% of Turning Point Brands as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Turning Point Brands by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company's stock worth $157,331,000 after acquiring an additional 61,311 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Turning Point Brands by 28.9% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company's stock valued at $94,281,000 after purchasing an additional 194,938 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Turning Point Brands by 4.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company's stock valued at $91,820,000 after purchasing an additional 38,437 shares during the last quarter. First Trust Advisors LP increased its position in Turning Point Brands by 39.6% during the 1st quarter. First Trust Advisors LP now owns 689,905 shares of the company's stock worth $59,877,000 after purchasing an additional 195,643 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Turning Point Brands by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 541,667 shares of the company's stock worth $58,728,000 after purchasing an additional 28,463 shares in the last quarter. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Trading Up 0.1%

Shares of NYSE TPB opened at $84.34 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. Turning Point Brands, Inc. has a 52-week low of $65.80 and a 52-week high of $146.90. The firm has a 50 day moving average price of $83.41 and a two-hundred day moving average price of $89.64. The stock has a market cap of $1.63 billion, a P/E ratio of 36.20 and a beta of 0.91.

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

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, September 18th. Turning Point Brands's payout ratio is 13.73%.

Wall Street Analyst Weigh In

TPB has been the topic of a number of research analyst reports. Compass Point set a $116.00 target price on shares of Turning Point Brands in a research report on Monday, August 10th. Needham & Company LLC upgraded shares of Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 price target for the company in a report on Friday, May 8th. Wall Street Zen upgraded Turning Point Brands from a "strong sell" rating to a "sell" rating in a research note on Monday, August 10th. BTIG Research reissued a "buy" rating on shares of Turning Point Brands in a report on Monday, August 10th. Finally, Weiss Ratings lowered Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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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