Militia Capital Partners LP Boosts Stock Position in Turning Point Brands, Inc. $TPB

Key Points

• Militia Capital Partners LP significantly increased its stake in Turning Point Brands, acquiring a 100% boost to hold 14,000 shares valued at $832,000.
• Turning Point Brands reported a strong earnings performance, with a $0.98 earnings per share exceeding analysts' expectations of $0.79, and a revenue of $116.63 million for the quarter.
• The company declared a quarterly dividend of $0.075 per share, representing an annualized yield of 0.3%, with the ex-dividend date set for September 19th.

Militia Capital Partners LP boosted its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 100.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,000 shares of the company's stock after buying an additional 7,000 shares during the period. Militia Capital Partners LP owned approximately 0.08% of Turning Point Brands worth $832,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Martingale Asset Management L P raised its position in Turning Point Brands by 0.6% during the first quarter. Martingale Asset Management L P now owns 26,370 shares of the company's stock valued at $1,567,000 after purchasing an additional 162 shares in the last quarter. Arizona State Retirement System raised its position in Turning Point Brands by 4.1% during the first quarter. Arizona State Retirement System now owns 5,083 shares of the company's stock valued at $302,000 after purchasing an additional 199 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Turning Point Brands by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company's stock valued at $585,000 after purchasing an additional 330 shares in the last quarter. Rhumbline Advisers raised its position in Turning Point Brands by 1.9% during the first quarter. Rhumbline Advisers now owns 24,531 shares of the company's stock valued at $1,458,000 after purchasing an additional 464 shares in the last quarter. Finally, Virtus Fund Advisers LLC purchased a new stake in Turning Point Brands during the fourth quarter valued at about $48,000. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Trading Up 1.7%

NYSE:TPB traded up $1.71 during mid-day trading on Friday, reaching $102.39. 307,712 shares of the company's stock traded hands, compared to its average volume of 306,926. Turning Point Brands, Inc. has a 12-month low of $38.50 and a 12-month high of $102.90. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 42.84 and a beta of 0.76. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.22 and a quick ratio of 2.67. The company has a 50 day moving average price of $89.37 and a 200-day moving average price of $74.34.

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 (EPS) for the quarter, beating 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 company had revenue of $116.63 million for the quarter, compared to the consensus estimate of $107.30 million. During the same quarter in the previous year, the business earned $0.68 EPS. Turning Point Brands's revenue was up 25.1% compared to the same quarter last year. On average, sell-side analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share 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. Investors of record on Friday, September 19th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, September 19th. Turning Point Brands's payout ratio is currently 12.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Oppenheimer raised their price target on Turning Point Brands from $85.00 to $98.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Needham & Company LLC began coverage on Turning Point Brands in a report on Friday, August 1st. They issued a "hold" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Turning Point Brands currently has an average rating of "Buy" and an average price target of $78.83.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, Director Lawrence Wexler sold 25,000 shares of Turning Point Brands stock in a transaction that occurred 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 sale, the director directly owned 330,186 shares of the company's stock, valued at approximately $25,074,324.84. The trade was a 7.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Brian Wigginton sold 10,800 shares of Turning Point Brands stock in a transaction that occurred on Monday, June 16th. The shares were 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 approximately $769,639.57. The trade was a 51.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.60% of the stock is owned by insiders.

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.