Vanguard Group Inc. Decreases Stake in Turning Point Brands, Inc. $TPB

Key Points

• Vanguard Group Inc. has reduced its stake in Turning Point Brands by 2.0%, now holding 1,494,108 shares worth approximately $88.81 million.
• The company is set to pay a quarterly dividend of $0.075 per share on October 10th, representing a 0.3% dividend yield.
• Turning Point Brands reported a 25.1% increase in revenue year-over-year and achieved an earnings per share (EPS) of $0.98, surpassing estimates.

Vanguard Group Inc. reduced its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,494,108 shares of the company's stock after selling 30,532 shares during the period. Vanguard Group Inc. owned 8.41% of Turning Point Brands worth $88,810,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TPB. Virtus Fund Advisers LLC acquired a new stake in Turning Point Brands during the 4th quarter worth about $48,000. Sunbelt Securities Inc. acquired a new stake in Turning Point Brands during the 4th quarter worth about $96,000. Tower Research Capital LLC TRC boosted its position in shares of Turning Point Brands by 29.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock worth $142,000 after purchasing an additional 532 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Turning Point Brands during the 4th quarter worth about $201,000. Finally, Prescott General Partners LLC bought a new position in shares of Turning Point Brands during the 4th quarter worth about $210,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Stock Up 1.5%

NYSE TPB traded up $1.44 during trading hours on Thursday, hitting $99.93. The company's stock had a trading volume of 470,316 shares, compared to its average volume of 449,972. Turning Point Brands, Inc. has a 52 week low of $38.08 and a 52 week high of $102.90. The company has a market capitalization of $1.80 billion, a PE ratio of 41.81 and a beta of 0.66. 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 company's 50-day simple moving average is $83.84 and its two-hundred day simple moving average is $71.98.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $107.30 million. During the same quarter last year, the firm earned $0.68 EPS. The firm's revenue for the quarter was up 25.1% compared to the same quarter last year. Research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The company 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. The ex-dividend date is Friday, September 19th. This represents a $0.30 annualized dividend and a yield of 0.3%. Turning Point Brands's dividend payout ratio (DPR) is 12.55%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TPB shares. Oppenheimer increased their price objective on shares of Turning Point Brands from $85.00 to $98.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Needham & Company LLC started coverage on shares of Turning Point Brands in a research report on Friday, August 1st. They set a "hold" rating on the stock. Wall Street Zen cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Zacks Research raised shares of Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Two investment 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 stock. According to MarketBeat, Turning Point Brands has a consensus rating of "Buy" and an average price target of $78.83.

Insider Transactions at Turning Point Brands

In other Turning Point Brands 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 completion of the sale, the chief accounting officer owned 10,171 shares in the company, valued at approximately $769,639.57. This trade represents a 51.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen Usher sold 600 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $75.25, for a total transaction of $45,150.00. Following the completion of the sale, the director owned 6,175 shares of the company's stock, valued at approximately $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 90 days, insiders have sold 110,300 shares of company stock worth $8,291,282. Company insiders own 6.60% of the company's stock.

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.