Sei Investments Co. Grows Position in Turning Point Brands, Inc. $TPB

Sei Investments Co. increased its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 46.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,676 shares of the company’s stock after acquiring an additional 21,805 shares during the quarter. Sei Investments Co.’s holdings in Turning Point Brands were worth $5,960,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TPB. Cetera Investment Advisers increased its holdings in Turning Point Brands by 25.8% in the 1st quarter. Cetera Investment Advisers now owns 4,053 shares of the company’s stock valued at $352,000 after acquiring an additional 832 shares during the last quarter. Militia Capital Management LLC purchased a new position in shares of Turning Point Brands during the first quarter valued at about $3,472,000. First Trust Advisors LP grew its position in shares of Turning Point Brands by 39.6% during the first quarter. First Trust Advisors LP now owns 689,905 shares of the company’s stock valued at $59,877,000 after purchasing an additional 195,643 shares in the last quarter. Copeland Capital Management LLC increased its holdings in shares of Turning Point Brands by 99.4% in the first quarter. Copeland Capital Management LLC now owns 407,208 shares of the company’s stock worth $35,342,000 after purchasing an additional 203,020 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Turning Point Brands by 31.0% in the first quarter. Bessemer Group Inc. now owns 2,845 shares of the company’s stock worth $247,000 after purchasing an additional 674 shares during the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the sale, the chief accounting officer directly owned 9,230 shares in the company, valued at $846,114.10. This trade represents a 30.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TPB shares. Wall Street Zen lowered Turning Point Brands from a “sell” rating to a “strong sell” rating in a research note on Sunday. Compass Point set a $103.00 price objective on Turning Point Brands in a research note on Tuesday, July 21st. 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 report on Friday, May 8th. Weiss Ratings downgraded Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Finally, BTIG Research began coverage on shares of Turning Point Brands in a report on Tuesday, July 21st. They issued a “buy” rating and a $103.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Turning Point Brands has an average rating of “Moderate Buy” and an average price target of $113.50.

Turning Point Brands Trading Up 2.9%

TPB opened at $82.78 on Wednesday. The firm has a market cap of $1.60 billion, a P/E ratio of 28.16 and a beta of 0.91. Turning Point Brands, Inc. has a 12 month low of $65.80 and a 12 month high of $146.90. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $82.56 and a 200 day moving average of $93.95.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The business had revenue of $124.28 million for the quarter, compared to the consensus estimate of $115.67 million. During the same period in the prior year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, research analysts forecast that Turning Point Brands, Inc. will post 1.39 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th 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 is Friday, September 18th. Turning Point Brands’s dividend payout ratio is presently 10.88%.

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.