Access Investment Management LLC Has $7.28 Million Holdings in Turning Point Brands, Inc. $TPB

Access Investment Management LLC lessened its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,590 shares of the company’s stock after selling 9,885 shares during the quarter. Turning Point Brands comprises approximately 2.0% of Access Investment Management LLC’s holdings, making the stock its 18th largest position. Access Investment Management LLC owned about 0.41% of Turning Point Brands worth $7,275,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TPB. First Horizon Corp bought a new stake in Turning Point Brands during the third quarter worth approximately $25,000. GAMMA Investing LLC lifted 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 buying an additional 156 shares during the last quarter. Briaud Financial Planning Inc bought a new stake in shares of Turning Point Brands during the 2nd quarter worth $31,000. State of Alaska Department of Revenue acquired a new position in Turning Point Brands in the 3rd quarter valued at $74,000. Finally, Canada Pension Plan Investment Board bought a new position in Turning Point Brands in the 2nd quarter worth $129,000. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Trading Up 0.1%

Shares of Turning Point Brands stock opened at $121.47 on Friday. Turning Point Brands, Inc. has a 52-week low of $51.48 and a 52-week high of $124.73. The firm has a market capitalization of $2.32 billion, a PE ratio of 42.77 and a beta of 0.86. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98. The company’s fifty day moving average price is $108.61 and its two-hundred day moving average price is $98.91.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.46. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The business had revenue of $118.98 million for the quarter, compared to analyst estimates of $111.42 million. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. On average, analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, December 19th. Turning Point Brands’s dividend payout ratio is currently 10.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Turning Point Brands in a report on Tuesday, December 23rd. Industrial Alliance Securities set a $110.00 target price on Turning Point Brands in a research note on Wednesday, November 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Turning Point Brands in a research report on Wednesday, January 14th. Zacks Research lowered Turning Point Brands from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Alliance Global Partners raised their price objective on shares of Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.67.

Insiders Place Their Bets

In related news, Chairman David Edward Glazek sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the completion of the transaction, the chairman owned 127,083 shares in the company, valued at $14,012,171.58. This trade represents a 19.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence Wexler sold 21,069 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $100.02, for a total value of $2,107,321.38. Following the transaction, the director owned 290,765 shares of the company’s stock, valued at $29,082,315.30. This represents a 6.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 96,220 shares of company stock worth $9,958,542 in the last 90 days. 6.60% of the stock is owned by corporate insiders.

Turning Point Brands Company 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.