Turning Point Brands, Inc. (NYSE:TPB) Shares Purchased by IFP Advisors Inc

Key Points

• IFP Advisors Inc increased its stake in Turning Point Brands by an astonishing 97,250%, acquiring a total of 3,894 shares valued at $231,000.
• Insider trading included a sale of 30,000 shares by CEO Graham Purdy for approximately $2.25 million, representing an 11.65% decrease in his ownership.
• Turning Point Brands reported $0.91 earnings per share for its latest quarter, exceeding estimates, and announced its quarterly dividend of $0.075 per share.

IFP Advisors Inc boosted its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 97,250.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,894 shares of the company's stock after acquiring an additional 3,890 shares during the period. IFP Advisors Inc's holdings in Turning Point Brands were worth $231,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in shares of Turning Point Brands by 0.4% during the 4th quarter. Sei Investments Co. now owns 78,087 shares of the company's stock worth $4,693,000 after acquiring an additional 283 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Turning Point Brands by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company's stock worth $91,631,000 after buying an additional 18,440 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Turning Point Brands by 15.6% in the 4th quarter. JPMorgan Chase & Co. now owns 142,251 shares of the company's stock valued at $8,549,000 after purchasing an additional 19,172 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Turning Point Brands by 36.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company's stock valued at $19,145,000 after purchasing an additional 84,552 shares during the period. Finally, Trexquant Investment LP grew its stake in shares of Turning Point Brands by 60.0% during the fourth quarter. Trexquant Investment LP now owns 52,917 shares of the company's stock valued at $3,180,000 after acquiring an additional 19,847 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TPB. Oppenheimer raised their target price on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $76.67.

Turning Point Brands Stock Up 0.7%

Turning Point Brands stock traded up $0.58 during trading hours on Thursday, hitting $83.14. 81,244 shares of the stock traded hands, compared to its average volume of 248,293. Turning Point Brands, Inc. has a one year low of $34.78 and a one year high of $83.62. 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 company has a market cap of $1.49 billion, a PE ratio of 36.45 and a beta of 0.75. The firm's 50-day moving average price is $75.27 and its two-hundred day moving average price is $66.98.

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

Turning Point Brands Announces Dividend

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

Insider Activity at Turning Point Brands

In related news, SVP Brittani Cushman sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $74.36, for a total transaction of $557,700.00. Following the transaction, the senior vice president owned 34,687 shares of the company's stock, valued at approximately $2,579,325.32. This represents a 17.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Graham Purdy sold 30,000 shares of Turning Point Brands stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $75.03, for a total transaction of $2,250,900.00. Following the completion of the transaction, the chief executive officer owned 227,466 shares in the company, valued at approximately $17,066,773.98. This trade represents a 11.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,300 shares of company stock worth $8,666,867 in the last three months. 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.