Ritholtz Wealth Management Buys 8,151 Shares of Turning Point Brands, Inc. $TPB

Key Points

• Ritholtz Wealth Management has increased its stake in Turning Point Brands, acquiring an additional 8,151 shares, raising its ownership to 23,579 shares, valued at approximately $1.79 million.
• Turning Point Brands recently reported a 25.1% increase in quarterly revenue year-over-year, achieving $116.63 million with an EPS of $0.98, exceeding analysts' expectations of $0.79.
• The company has declared a quarterly dividend of $0.075, translating to an annualized yield of 0.3%, with a low payout ratio of 12.55%.

Ritholtz Wealth Management boosted its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 52.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,579 shares of the company's stock after buying an additional 8,151 shares during the quarter. Ritholtz Wealth Management owned approximately 0.13% of Turning Point Brands worth $1,787,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its position in Turning Point Brands by 53.2% during the second quarter. IFP Advisors Inc now owns 5,966 shares of the company's stock valued at $458,000 after buying an additional 2,072 shares during the period. Counterpoint Mutual Funds LLC bought a new position in Turning Point Brands during the second quarter worth about $412,000. GAMMA Investing LLC increased its stake in shares of Turning Point Brands by 90.7% in the second quarter. GAMMA Investing LLC now owns 328 shares of the company's stock worth $25,000 after purchasing an additional 156 shares in the last quarter. Longboard Asset Management LP bought a new stake in shares of Turning Point Brands in the second quarter valued at approximately $236,000. Finally, Voya Investment Management LLC raised its position in shares of Turning Point Brands by 20.2% in the first quarter. Voya Investment Management LLC now owns 18,933 shares of the company's stock valued at $1,125,000 after purchasing an additional 3,187 shares during the period. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Price Performance

TPB stock opened at $90.36 on Friday. 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 one year low of $42.47 and a one year high of $104.76. The stock has a market cap of $1.63 billion, a PE ratio of 37.81 and a beta of 0.74. The firm has a 50 day simple moving average of $97.22 and a two-hundred day simple moving average of $79.92.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings results 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 business had revenue of $116.63 million during the quarter, compared to analysts' expectations of $107.30 million. During the same quarter in the previous year, the company earned $0.68 EPS. The business's quarterly revenue was up 25.1% compared to the same quarter last year. On average, analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 19th were 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 was Friday, September 19th. Turning Point Brands's payout ratio is currently 12.55%.

Analysts Set New Price Targets

Several analysts have recently issued reports on TPB shares. 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. Wall Street Zen lowered shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Oppenheimer boosted their price target 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. Zacks Research lowered shares of Turning Point Brands from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Turning Point Brands in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.83.

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.

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