Legal & General Group Plc Makes New $1.15 Million Investment in Turning Point Brands, Inc. $TPB

Legal & General Group Plc purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,606 shares of the company's stock, valued at approximately $1,154,000. Legal & General Group Plc owned approximately 0.07% of Turning Point Brands as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new position in shares of Turning Point Brands during the fourth quarter valued at approximately $27,000. Empowered Funds LLC bought a new position in Turning Point Brands during the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Turning Point Brands in the third quarter worth approximately $28,000. Advisory Services Network LLC purchased a new stake in Turning Point Brands during the 3rd quarter valued at $28,000. Finally, Covestor Ltd lifted its holdings in shares of Turning Point Brands by 16.3% during the 4th quarter. Covestor Ltd now owns 663 shares of the company's stock valued at $72,000 after buying an additional 93 shares during the period. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPB has been the subject of several research analyst reports. BTIG Research reaffirmed a "buy" rating on shares of Turning Point Brands in a report on Monday, August 10th. Wall Street Zen raised Turning Point Brands from a "strong sell" rating to a "sell" rating in a research report on Monday, August 10th. Weiss Ratings restated a "hold (c)" rating on shares of Turning Point Brands in a research note on Friday, August 28th. Finally, Compass Point set a $116.00 price target on shares of Turning Point Brands in a research report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Turning Point Brands currently has an average rating of "Moderate Buy" and an average price target of $115.67.

Turning Point Brands Trading Up 0.4%

NYSE:TPB opened at $75.49 on Tuesday. Turning Point Brands, Inc. has a one year low of $65.80 and a one year high of $146.90. The business has a fifty day moving average price of $82.75 and a 200-day moving average price of $87.15. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 32.40 and a beta of 0.94. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.11. The business had revenue of $142.96 million during the quarter, compared to analyst estimates of $129.56 million. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%.Turning Point Brands's revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 earnings per share. Sell-side analysts forecast that Turning Point Brands, Inc. will post 1.23 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Turning Point Brands's payout ratio is 13.73%.

Turning Point Brands Company Profile

Turning Point Brands, Inc NYSE: TPB is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker's.

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