Vanguard Group Inc. Increases Holdings in Turning Point Brands, Inc. $TPB

Key Points

• Vanguard Group increased its stake in Turning Point Brands by 4.4% in the fourth quarter, bringing its holdings to 1.45 million shares worth about $157.3 million.
• Turning Point Brands reported better-than-expected quarterly results, with EPS of $0.76 versus the $0.68 estimate and revenue of $124.28 million, up 16.8% year over year.
• The company also announced a quarterly dividend of $0.08 per share, while analyst sentiment remains mixed but leans positive with a Moderate Buy consensus and a $118.75 price target.

Vanguard Group Inc. lifted its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,451,394 shares of the company's stock after acquiring an additional 61,311 shares during the period. Vanguard Group Inc. owned 7.61% of Turning Point Brands worth $157,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPB. First Horizon Corp purchased a new stake in Turning Point Brands during the third quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in Turning Point Brands during the 3rd quarter valued at $28,000. Advisory Services Network LLC bought a new stake in Turning Point Brands in the third quarter worth $28,000. Huntington National Bank increased its position in Turning Point Brands by 54.9% during the third quarter. Huntington National Bank now owns 457 shares of the company's stock valued at $45,000 after acquiring an additional 162 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Turning Point Brands by 33.4% in the fourth quarter. GAMMA Investing LLC now owns 491 shares of the company's stock valued at $53,000 after acquiring an additional 123 shares during the period. Hedge funds and other institutional investors own 96.12% of the company's stock.

Turning Point Brands Stock Down 1.1%

Shares of NYSE TPB opened at $92.40 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.12 and a current ratio of 5.56. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 31.43 and a beta of 0.93. The stock has a 50 day moving average price of $85.68 and a 200 day moving average price of $101.54. Turning Point Brands, Inc. has a 52-week low of $65.80 and a 52-week high of $146.90.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. The company had revenue of $124.28 million for the quarter, compared to analysts' expectations of $115.67 million. Turning Point Brands had a return on equity of 17.42% and a net margin of 11.53%.Turning Point Brands's revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Sell-side analysts expect that Turning Point Brands, Inc. will post 2.66 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, June 18th. Turning Point Brands's dividend payout ratio is presently 10.88%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TPB shares. Oppenheimer reaffirmed an "outperform" rating and set a $130.00 price target on shares of Turning Point Brands in a research note on Wednesday, January 14th. Wall Street Zen lowered shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, January 17th. Zacks Research cut Turning Point Brands from a "hold" rating to a "strong sell" rating in a research note on Monday, March 2nd. Weiss Ratings downgraded Turning Point Brands from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, April 21st. Finally, Needham & Company LLC raised Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 price objective on the stock in a research report on Friday. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $118.75.

Insider Activity at Turning Point Brands

In other news, CFO Andrew Flynn sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total value of $195,140.00. Following the completion of the sale, the chief financial officer owned 9,443 shares of the company's stock, valued at approximately $921,353.51. This represents a 17.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.40% of the company's stock.

About Turning Point Brands

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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