Invesco Ltd. Increases Stock Holdings in Turning Point Brands, Inc. $TPB

Key Points

• Invesco Ltd. increased its stake in Turning Point Brands, Inc. by 5.8%, now holding approximately 0.58% of the company with a total value of $6.11 million.
• Insider trading activity showed significant sales, including CEO Graham Purdy selling 21,400 shares, resulting in a 8.60% decrease of his position.
• Turning Point Brands reported earnings of $0.98 per share, surpassing the expected $0.79, with a revenue increase of 25.1% year-over-year.

Invesco Ltd. raised its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 5.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 102,868 shares of the company's stock after purchasing an additional 5,607 shares during the period. Invesco Ltd. owned about 0.58% of Turning Point Brands worth $6,114,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TPB. Virtus Fund Advisers LLC acquired a new position in Turning Point Brands during the fourth quarter worth about $48,000. Sunbelt Securities Inc. acquired a new position in Turning Point Brands during the fourth quarter worth about $96,000. Tower Research Capital LLC TRC raised its position in Turning Point Brands by 29.0% during the fourth 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. acquired a new position in Turning Point Brands during the fourth quarter worth about $201,000. Finally, Prescott General Partners LLC acquired a new position in Turning Point Brands during the fourth quarter worth about $210,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Wall Street Analysts Forecast Growth

TPB has been the subject of a number of research reports. 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. Needham & Company LLC initiated coverage on Turning Point Brands in a research note on Friday, August 1st. They set a "hold" rating on the stock. Wall Street Zen lowered Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Oppenheimer increased their price objective on Turning Point Brands from $85.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Turning Point Brands has a consensus rating of "Buy" and a consensus target price of $78.83.

Turning Point Brands Trading Down 0.5%

NYSE:TPB traded down $0.52 during mid-day trading on Friday, reaching $99.39. The company's stock had a trading volume of 424,068 shares, compared to its average volume of 450,366. The company's fifty day simple moving average is $84.35 and its two-hundred day simple moving average is $72.21. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.22 and a quick ratio of 2.67. Turning Point Brands, Inc. has a twelve month low of $38.08 and a twelve month high of $102.90. The stock has a market cap of $1.79 billion, a P/E ratio of 41.58 and a beta of 0.66.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm 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. The firm's quarterly revenue was up 25.1% on a year-over-year basis. On average, equities analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

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

Insider Transactions at Turning Point Brands

In other news, SVP Brittani Cushman sold 7,500 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $74.36, for a total value of $557,700.00. Following the transaction, the senior vice president directly owned 34,687 shares in the company, valued at $2,579,325.32. This trade represents a 17.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen Usher sold 600 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $75.25, for a total value of $45,150.00. Following the completion of the transaction, the director owned 6,175 shares in the company, valued at approximately $464,668.75. This trade represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,300 shares of company stock worth $8,291,282 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Turning Point Brands Company 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.