Crown Advisors Management Inc. Purchases New Position in Turning Point Brands, Inc. $TPB

Crown Advisors Management Inc. acquired a new position in Turning Point Brands, Inc. (NYSE:TPB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $1,272,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC acquired a new stake in Turning Point Brands in the fourth quarter valued at approximately $28,454,000. Madison Avenue Partners LP bought a new stake in Turning Point Brands in the fourth quarter worth $26,853,000. Wellington Management Group LLP acquired a new position in Turning Point Brands during the third quarter worth $20,788,000. First Trust Advisors LP raised its holdings in Turning Point Brands by 72.4% during the fourth quarter. First Trust Advisors LP now owns 494,262 shares of the company’s stock valued at $53,578,000 after buying an additional 207,604 shares in the last quarter. Finally, Copeland Capital Management LLC raised its holdings in Turning Point Brands by 29,795.8% during the fourth quarter. Copeland Capital Management LLC now owns 204,188 shares of the company’s stock valued at $22,134,000 after buying an additional 203,505 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Down 0.2%

Shares of TPB opened at $87.17 on Monday. The company has a 50-day simple moving average of $82.63 and a 200-day simple moving average of $92.15. The firm has a market capitalization of $1.69 billion, a P/E ratio of 37.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. Turning Point Brands, Inc. has a 52 week low of $65.80 and a 52 week high of $146.90.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, September 18th. Turning Point Brands’s payout ratio is currently 13.73%.

Analyst Ratings Changes

TPB has been the topic of a number of analyst reports. Compass Point set a $116.00 price objective on Turning Point Brands in a report on Monday, August 10th. Weiss Ratings cut Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Monday, August 10th. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Finally, Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Turning Point Brands currently has an average rating of “Moderate Buy” and a consensus target price of $115.67.

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.