Dynamic Technology Lab Private Ltd Takes $877,000 Position in Turning Point Brands, Inc. $TPB

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake of 14,761 shares in Turning Point Brands, Inc., valued at approximately $877,000, representing a 0.08% ownership as of the end of the recent quarter.
• Turning Point Brands recently announced a quarterly dividend of $0.075 per share, with an annualized dividend yield of 0.3%, scheduled for payout on October 10th.
• Analysts have mixed ratings on Turning Point Brands, with two firms rating it as a Strong Buy and one as a Hold, reflecting a consensus rating of Buy and an average target price of $78.83.

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,761 shares of the company's stock, valued at approximately $877,000. Dynamic Technology Lab Private Ltd owned about 0.08% of Turning Point Brands at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Virtus Fund Advisers LLC purchased a new position in shares of Turning Point Brands during the 4th quarter valued at $48,000. Sunbelt Securities Inc. purchased a new position in shares of Turning Point Brands during the 4th quarter valued at $96,000. Baird Financial Group Inc. purchased a new position in shares of Turning Point Brands during the 4th quarter valued at $201,000. Prescott General Partners LLC purchased a new position in shares of Turning Point Brands during the 4th quarter valued at $210,000. Finally, IFP Advisors Inc lifted its position in shares of Turning Point Brands by 97,250.0% during the 1st quarter. IFP Advisors Inc now owns 3,894 shares of the company's stock valued at $231,000 after buying an additional 3,890 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports 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. Needham & Company LLC assumed coverage on Turning Point Brands in a report on Friday, August 1st. They set a "hold" rating on the stock. Oppenheimer increased their price objective on Turning Point Brands from $85.00 to $98.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Zacks Research raised Turning Point Brands from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $78.83.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock traded up $1.71 during trading on Friday, hitting $102.39. 307,712 shares of the stock traded hands, compared to its average volume of 274,556. The company has a quick ratio of 2.67, a current ratio of 4.22 and a debt-to-equity ratio of 1.30. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 42.84 and a beta of 0.76. The firm's fifty day moving average is $88.80 and its 200-day moving average is $74.04. Turning Point Brands, Inc. has a 52 week low of $38.50 and a 52 week high of $102.90.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.19. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The business had revenue of $116.63 million for the quarter, compared to analyst estimates of $107.30 million. During the same period last year, the company earned $0.68 EPS. Turning Point Brands'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 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 19th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 19th. Turning Point Brands's dividend payout ratio (DPR) is presently 12.55%.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 10,800 shares of the stock in a transaction that occurred on 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 approximately $769,639.57. This trade represents a 51.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $1,898,500.00. Following the completion of the sale, the director owned 330,186 shares of the company's stock, valued at approximately $25,074,324.84. This trade represents a 7.04% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.60% of the company's stock.

About Turning Point Brands

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.