SWP Investment Management LLC Acquires New Holdings in Turning Point Brands, Inc. $TPB

SWP Investment Management LLC purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,630 shares of the company’s stock, valued at approximately $2,174,000. SWP Investment Management LLC owned about 0.13% of Turning Point Brands as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPB. Vanguard Group Inc. boosted its holdings in Turning Point Brands by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company’s stock worth $157,331,000 after acquiring an additional 61,311 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of Turning Point Brands by 28.9% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company’s stock valued at $94,281,000 after purchasing an additional 194,938 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Turning Point Brands by 4.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company’s stock worth $91,820,000 after purchasing an additional 38,437 shares in the last quarter. First Trust Advisors LP grew its position in Turning Point Brands by 39.6% during the 1st quarter. First Trust Advisors LP now owns 689,905 shares of the company’s stock worth $59,877,000 after purchasing an additional 195,643 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Turning Point Brands by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 541,667 shares of the company’s stock valued at $58,728,000 after purchasing an additional 28,463 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

TPB has been the topic of a number of research analyst reports. BTIG Research initiated coverage on shares of Turning Point Brands in a report on Tuesday, July 21st. They set a “buy” rating and a $103.00 price objective on the stock. Weiss Ratings lowered Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Needham & Company LLC upgraded 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. Wall Street Zen lowered Turning Point Brands from a “sell” rating to a “strong sell” rating in a report on Sunday. Finally, Compass Point set a $103.00 price objective on Turning Point Brands in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.50.

Insider Buying and Selling at Turning Point Brands

In related news, CAO Brian Wigginton sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were 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 owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This represents a 30.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 5.40% of the company’s stock.

Turning Point Brands Stock Performance

NYSE TPB opened at $80.18 on Tuesday. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 27.27 and a beta of 0.92. The stock has a 50-day moving average of $82.69 and a 200 day moving average of $94.18. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76. Turning Point Brands, Inc. has a twelve month low of $65.80 and a twelve month high of $146.90.

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

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders 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 dividend yield of 0.4%. The ex-dividend date is Friday, September 18th. Turning Point Brands’s payout ratio is currently 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.