Guardian Point Capital LP Raises Stock Position in Turning Point Brands, Inc. $TPB

Guardian Point Capital LP grew its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,239 shares of the company’s stock after acquiring an additional 8,239 shares during the period. Turning Point Brands comprises approximately 2.0% of Guardian Point Capital LP’s holdings, making the stock its 11th biggest holding. Guardian Point Capital LP owned about 0.31% of Turning Point Brands worth $6,313,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TPB. Kemnay Advisory Services Inc. purchased a new stake in Turning Point Brands during the 4th quarter worth $27,000. Empowered Funds LLC purchased a new stake in Turning Point Brands during the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Turning Point Brands during the 3rd quarter worth $28,000. Advisory Services Network LLC purchased a new stake in Turning Point Brands during the 3rd quarter worth $28,000. Finally, Huntington National Bank increased its stake in Turning Point Brands by 54.9% during the 3rd quarter. Huntington National Bank now owns 457 shares of the company’s stock worth $45,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TPB shares. Weiss Ratings downgraded shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Zacks Research downgraded shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Needham & Company LLC raised shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Friday, May 8th. Finally, Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $118.75.

Turning Point Brands Price Performance

Shares of TPB stock opened at $83.68 on Wednesday. The firm has a market cap of $1.62 billion, a P/E ratio of 28.46 and a beta of 0.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05. Turning Point Brands, Inc. has a 1-year low of $65.80 and a 1-year high of $146.90. The firm has a fifty day moving average of $83.68 and a two-hundred day moving average of $99.82.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.08. The company had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. As a group, research analysts anticipate that Turning Point Brands, Inc. will post 1.43 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed 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 0.4%. The ex-dividend date of this dividend is Thursday, June 18th. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.88%.

Insiders Place Their Bets

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the firm’s 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 directly owned 9,230 shares of the company’s stock, valued at $846,114.10. This trade represents a 30.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is currently owned by corporate insiders.

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.