Nuveen LLC Acquires New Shares in Turning Point Brands, Inc. $TPB

Key Points

• Nuveen LLC acquired a new stake in Turning Point Brands, purchasing 63,508 shares valued at approximately $3.775 million, representing about 0.36% ownership in the company.
• Multiple institutional investors increased their stakes, with King Luther Capital Management boosting its position by 280.7%, now owning 87,049 shares valued at $5.174 million.
• Turning Point Brands announced a quarterly dividend of $0.075 per share, with an ex-dividend date of September 19th and a yield of 0.3%.

Nuveen LLC acquired a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 63,508 shares of the company's stock, valued at approximately $3,775,000. Nuveen LLC owned approximately 0.36% of Turning Point Brands as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of TPB. Virtus Fund Advisers LLC acquired a new position in Turning Point Brands during the 4th quarter valued at about $48,000. Sunbelt Securities Inc. bought a new position in shares of Turning Point Brands in the fourth quarter valued at approximately $96,000. Tower Research Capital LLC TRC increased its stake in shares of 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 valued at $142,000 after acquiring an additional 532 shares during the period. Baird Financial Group Inc. acquired a new stake in Turning Point Brands in the fourth quarter worth approximately $201,000. Finally, Prescott General Partners LLC bought a new position in Turning Point Brands during the 4th quarter valued at $210,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research raised Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Needham & Company LLC started coverage on shares of Turning Point Brands in a research report on Friday, August 1st. They issued a "hold" rating on the stock. Oppenheimer raised their price objective on shares of Turning Point Brands from $85.00 to $98.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $78.83.

Turning Point Brands Trading Down 1.0%

Shares of Turning Point Brands stock traded down $0.95 during trading on Tuesday, hitting $98.55. The stock had a trading volume of 24,954 shares, compared to its average volume of 274,692. The company has a quick ratio of 2.67, a current ratio of 4.22 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $1.78 billion, a PE ratio of 41.23 and a beta of 0.76. Turning Point Brands, Inc. has a 1 year low of $38.08 and a 1 year high of $102.90. The stock has a 50 day simple moving average of $84.84 and a 200 day simple moving average of $72.43.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.19. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The firm had revenue of $116.63 million during the quarter, compared to analyst estimates of $107.30 million. During the same quarter last year, the business posted $0.68 EPS. The company's revenue was up 25.1% on a year-over-year basis. On average, research analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 19th. Turning Point Brands's dividend payout ratio is currently 12.55%.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, Director Stephen Usher sold 600 shares of the company'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 transaction, the director directly owned 6,175 shares of the company's stock, valued at $464,668.75. This represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Graham Purdy sold 21,400 shares of Turning Point Brands stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $74.89, for a total value of $1,602,646.00. Following the sale, the chief executive officer owned 227,466 shares of the company's stock, valued at approximately $17,034,928.74. This represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,300 shares of company stock worth $8,291,282. 6.60% of the stock is currently owned by company 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.