GSA Capital Partners LLP Sells 6,265 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Key Points

• GSA Capital Partners LLP reduced its stake in Turning Point Brands by 20.9%, selling 6,265 shares and now owning 23,775 shares valued at $1.41 million.
• Recent insider activity includes Director Stephen Usher and CAO Brian Wigginton selling shares, representing significant decreases in their stock positions.
• Turning Point Brands reported quarterly earnings of $0.91 EPS, exceeding analyst expectations, alongside a recently announced dividend yielding 0.38% annually.

GSA Capital Partners LLP cut its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 20.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 23,775 shares of the company's stock after selling 6,265 shares during the period. GSA Capital Partners LLP owned about 0.13% of Turning Point Brands worth $1,413,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC acquired a new stake in Turning Point Brands during the 4th quarter valued at $48,000. Sunbelt Securities Inc. acquired a new position in shares of Turning Point Brands in the 4th quarter valued at $96,000. Tower Research Capital LLC TRC grew its holdings in Turning Point Brands by 29.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock worth $142,000 after acquiring an additional 532 shares during the last quarter. Baird Financial Group Inc. bought a new position in Turning Point Brands in the 4th quarter valued at $201,000. Finally, Prescott General Partners LLC bought a new position in shares of Turning Point Brands in the 4th quarter valued at about $210,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TPB. Wall Street Zen cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday. Oppenheimer raised their price objective on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $76.67.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 10,800 shares of the business's stock in a transaction 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 sale, the chief accounting officer directly owned 10,171 shares in the company, valued at $769,639.57. The trade was a 51.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brittani Cushman sold 7,500 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $74.36, for a total value of $557,700.00. Following the sale, the senior vice president owned 34,687 shares in the company, valued at approximately $2,579,325.32. This represents a 17.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,300 shares of company stock valued at $8,666,867 in the last quarter. Insiders own 6.60% of the company's stock.

Turning Point Brands Trading Up 3.6%

NYSE:TPB traded up $2.83 during mid-day trading on Wednesday, hitting $82.51. 460,764 shares of the company's stock were exchanged, compared to its average volume of 337,400. The company has a 50 day simple moving average of $75.08 and a 200-day simple moving average of $66.87. The company has a current ratio of 4.42, a quick ratio of 2.64 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $1.48 billion, a P/E ratio of 36.19 and a beta of 0.75. Turning Point Brands, Inc. has a fifty-two week low of $34.78 and a fifty-two week high of $82.61.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.16. Turning Point Brands had a return on equity of 27.70% and a net margin of 10.19%. The business had revenue of $106.44 million during the quarter, compared to the consensus estimate of $95.75 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. Turning Point Brands's revenue was up 28.2% compared to the same quarter last year. As a group, research analysts expect that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 20th were issued a $0.075 dividend. The ex-dividend date was Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.36%. Turning Point Brands's dividend payout ratio (DPR) is presently 13.16%.

Turning Point Brands 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.