PEAK6 LLC Sells 4,881 Shares of Turning Point Brands, Inc. $TPB

Key Points

• PEAK6 LLC reduced its stake in Turning Point Brands, Inc. by 42.5% in the 1st quarter, selling 4,881 shares to hold 6,614 shares worth approximately $393,000.
• Turning Point Brands recently reported earnings of $0.98 per share, exceeding analysts' estimates, with a revenue of $116.63 million for the quarter—an increase of 25.1% from the previous year.
• The company announced a quarterly dividend of $0.075 per share, with a dividend yield of 0.3%, to be paid on October 10th.

PEAK6 LLC lowered its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 42.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,614 shares of the company's stock after selling 4,881 shares during the period. PEAK6 LLC's holdings in Turning Point Brands were worth $393,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Virtus Advisers LLC bought a new position in Turning Point Brands in the 1st quarter worth $589,000. Jump Financial LLC boosted its holdings in Turning Point Brands by 52.5% in the 1st quarter. Jump Financial LLC now owns 28,211 shares of the company's stock worth $1,677,000 after buying an additional 9,711 shares during the period. Martingale Asset Management L P boosted its holdings in Turning Point Brands by 0.6% in the 1st quarter. Martingale Asset Management L P now owns 26,370 shares of the company's stock worth $1,567,000 after buying an additional 162 shares during the period. EntryPoint Capital LLC bought a new position in Turning Point Brands in the 1st quarter worth $308,000. Finally, Quantbot Technologies LP boosted its holdings in Turning Point Brands by 129.4% in the 1st quarter. Quantbot Technologies LP now owns 23,500 shares of the company's stock worth $1,397,000 after buying an additional 13,255 shares during the period. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Stock Down 0.5%

Shares of NYSE TPB opened at $99.39 on Friday. The firm's 50-day moving average price is $84.35 and its 200-day moving average price is $72.21. The company has a current ratio of 4.22, a quick ratio of 2.67 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 41.58 and a beta of 0.66. Turning Point Brands, Inc. has a 12-month low of $38.08 and a 12-month high of $102.90.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.19. The firm had revenue of $116.63 million for the quarter, compared to analysts' expectations of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The business's revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. On average, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 19th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 19th. Turning Point Brands's dividend payout ratio is currently 12.55%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CAO Brian Wigginton sold 10,800 shares of the stock in a transaction dated 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 of the company's stock, valued at $769,639.57. This represents a 51.50% 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 company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $75.25, for a total transaction of $45,150.00. Following the completion of the transaction, the director owned 6,175 shares in the company, valued at $464,668.75. This represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,300 shares of company stock worth $8,291,282 over the last three months. 6.60% of the stock is currently owned by company insiders.

Turning Point Brands 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.

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