Charles Schwab Investment Management Inc. Sells 4,174 Shares of Turning Point Brands, Inc. $TPB

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Turning Point Brands, Inc. by 2.0% in the 1st quarter, now holding approximately 199,532 shares valued at about $11.86 million.
• Insiders, including Directors Stephen Usher and Lawrence Wexler, sold a total of 110,300 shares of Turning Point Brands stock worth over $8.2 million in recent transactions.
• Turning Point Brands reported a 25.1% year-over-year revenue increase for the latest quarter, totaling $116.63 million, and announced a quarterly dividend of $0.075 per share, yielding 0.3%.

Charles Schwab Investment Management Inc. lowered its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,532 shares of the company's stock after selling 4,174 shares during the period. Charles Schwab Investment Management Inc. owned about 1.12% of Turning Point Brands worth $11,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in TPB. Virtus Fund Advisers LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at about $48,000. Sunbelt Securities Inc. acquired a new stake in shares of Turning Point Brands in the 4th quarter worth approximately $96,000. Tower Research Capital LLC TRC lifted its stake in Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after buying an additional 532 shares in the last quarter. Baird Financial Group Inc. acquired a new position in Turning Point Brands in the 4th quarter valued at $201,000. Finally, Prescott General Partners LLC acquired a new stake in shares of Turning Point Brands during the 4th quarter worth $210,000. Hedge funds and other institutional investors own 96.12% of the company's stock.

Analysts Set New Price Targets

TPB has been the subject of a number of research analyst reports. Wall Street Zen downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Oppenheimer upped their target price on Turning Point Brands from $85.00 to $98.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Zacks Research upgraded Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Needham & Company LLC assumed coverage on Turning Point Brands in a research note on Friday, August 1st. They issued a "hold" rating for the company. Two investment 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. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $78.83.

Turning Point Brands Price Performance

Shares of TPB stock traded down $0.52 during trading hours on Friday, hitting $99.39. 424,068 shares of the company's stock were exchanged, compared to its average volume of 450,366. The stock's 50-day moving average is $84.35 and its 200-day moving average is $72.19. 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 stock has a market cap of $1.79 billion, a price-to-earnings ratio of 41.58 and a beta of 0.66. Turning Point Brands, Inc. has a 52 week low of $38.08 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $0.79 by $0.19. The company had revenue of $116.63 million for the quarter, compared to analysts' expectations of $107.30 million. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The business's revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. As a group, research analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

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 issued 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 presently 12.55%.

Insider Activity at Turning Point Brands

In other news, SVP Brittani Cushman sold 7,500 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $74.36, for a total transaction of $557,700.00. Following the transaction, the senior vice president owned 34,687 shares of the company's stock, valued at $2,579,325.32. This represents a 17.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen Usher sold 600 shares of the company's stock in a transaction on Thursday, June 5th. The shares were 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 in the company, valued at $464,668.75. This trade represents a 8.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,300 shares of company stock valued at $8,291,282. 6.60% of the stock is currently owned by company insiders.

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.