UBS Group AG Has $2.35 Million Holdings in Turning Point Brands, Inc. $TPB

Key Points

• UBS Group AG sharply reduced its Turning Point Brands stake by 81.6% in the fourth quarter, leaving it with 21,711 shares valued at about $2.35 million.
• Turning Point Brands reported better-than-expected quarterly results, with EPS of $0.76 versus $0.68 expected and revenue of $124.28 million, up 16.8% year over year.
• Analyst sentiment is mixed: while some firms downgraded the stock, Needham upgraded it to Buy with a $125 price target; the overall consensus rating is Hold with an average target of $118.75.

UBS Group AG cut its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 81.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,711 shares of the company's stock after selling 96,050 shares during the period. UBS Group AG owned 0.11% of Turning Point Brands worth $2,353,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Turning Point Brands during the third quarter worth approximately $28,000. Advisory Services Network LLC acquired a new position in shares of Turning Point Brands during the third quarter worth approximately $28,000. Huntington National Bank lifted its position in shares of Turning Point Brands by 54.9% during the third quarter. Huntington National Bank now owns 457 shares of the company's stock worth $45,000 after purchasing an additional 162 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Turning Point Brands by 33.4% during the fourth quarter. GAMMA Investing LLC now owns 491 shares of the company's stock worth $53,000 after purchasing an additional 123 shares in the last quarter. Finally, First Horizon Corp lifted its position in shares of Turning Point Brands by 96.0% during the fourth quarter. First Horizon Corp now owns 492 shares of the company's stock worth $53,000 after purchasing an additional 241 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Turning Point Brands

In related news, CAO Brian Wigginton sold 4,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the completion of the transaction, the chief accounting officer owned 9,230 shares in the company, valued at approximately $846,114.10. This represents a 30.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew Flynn sold 2,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total transaction of $195,140.00. Following the transaction, the chief financial officer owned 9,443 shares of the company's stock, valued at $921,353.51. The trade was a 17.48% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Zacks Research lowered shares of Turning Point Brands from a "hold" rating to a "strong sell" rating in a research report on Monday, March 2nd. Weiss Ratings downgraded shares of Turning Point Brands from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Turning Point Brands from a "hold" rating to a "strong sell" rating in a research note on Saturday, May 16th. Finally, Needham & Company LLC raised shares of Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 target price for the company in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Turning Point Brands presently has an average rating of "Hold" and an average target price of $118.75.

Turning Point Brands Stock Up 0.7%

Turning Point Brands stock opened at $89.93 on Thursday. The stock has a market capitalization of $1.74 billion, a PE ratio of 30.59 and a beta of 0.93. Turning Point Brands, Inc. has a twelve month low of $65.80 and a twelve month high of $146.90. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average of $83.73 and a 200-day moving average of $101.41.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.08. The company had revenue of $124.28 million during the quarter, compared to analysts' expectations of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The business's quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, equities research analysts anticipate that Turning Point Brands, Inc. will post 2.66 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, June 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Turning Point Brands's dividend payout ratio is presently 10.88%.

Turning Point Brands Profile

Turning Point Brands, Inc NYSE: TPB is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker's.

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