Dynamic Technology Lab Private Ltd Acquires New Stake 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 acquired a new position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 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.

Several other institutional investors have also recently bought and sold shares of TPB. 4D Advisors LLC bought a new position in Turning Point Brands in the 1st quarter worth approximately $5,647,000. Northern Right Capital Management L.P. raised its position in Turning Point Brands by 63.9% in the 1st quarter. Northern Right Capital Management L.P. now owns 220,178 shares of the company's stock worth $13,087,000 after purchasing an additional 85,824 shares during the last quarter. Teacher Retirement System of Texas raised its position in Turning Point Brands by 122.3% in the 1st quarter. Teacher Retirement System of Texas now owns 121,804 shares of the company's stock worth $7,240,000 after purchasing an additional 67,005 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Turning Point Brands in the 1st quarter worth approximately $3,921,000. Finally, King Luther Capital Management Corp raised its position in Turning Point Brands by 280.7% in the 1st quarter. King Luther Capital Management Corp now owns 87,049 shares of the company's stock worth $5,174,000 after purchasing an additional 64,181 shares during the last quarter. Institutional investors own 96.12% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Zacks Research upgraded shares of Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Oppenheimer lifted their target price on shares of Turning Point Brands from $85.00 to $98.00 and gave the stock 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, Needham & Company LLC began coverage on shares of Turning Point Brands in a report on Friday, August 1st. They set a "hold" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Turning Point Brands presently has an average rating of "Buy" and a consensus price target of $78.83.

Insiders Place Their Bets

In other news, CAO Brian Wigginton sold 10,800 shares of Turning Point Brands stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.67, for a total transaction of $817,236.00. Following the transaction, the chief accounting officer directly owned 10,171 shares of the company's stock, valued at $769,639.57. This trade represents a 51.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lawrence Wexler sold 25,000 shares of Turning Point Brands stock in a transaction 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 transaction, the director directly owned 330,186 shares in the company, valued at approximately $25,074,324.84. This represents a 7.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.60% of the company's stock.

Turning Point Brands Trading Up 1.7%

TPB traded up $1.71 during trading on Friday, reaching $102.39. 307,712 shares of the company's stock were exchanged, compared to its average volume of 306,926. The company's fifty day moving average price is $89.37 and its 200-day moving average price is $74.34. The firm has a market capitalization of $1.85 billion, a PE ratio of 42.84 and a beta of 0.76. Turning Point Brands, Inc. has a fifty-two week low of $38.50 and a fifty-two week high of $102.90. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.67 and a current ratio of 4.22.

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

Turning Point Brands Announces Dividend

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

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.