6,858 Shares in Turning Point Brands, Inc. $TPB Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 6,858 shares of the company’s stock, valued at approximately $678,000.

Other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of Turning Point Brands by 2.2% in the third quarter. Arizona State Retirement System now owns 5,297 shares of the company’s stock valued at $524,000 after buying an additional 114 shares during the period. Huntington National Bank lifted its stake in shares of Turning Point Brands by 54.9% in the third quarter. Huntington National Bank now owns 457 shares of the company’s stock worth $45,000 after acquiring an additional 162 shares during the period. Level Four Advisory Services LLC boosted its holdings in Turning Point Brands by 7.9% in the third quarter. Level Four Advisory Services LLC now owns 3,048 shares of the company’s stock valued at $301,000 after acquiring an additional 224 shares during the last quarter. First Horizon Corp bought a new stake in Turning Point Brands in the third quarter valued at approximately $25,000. Finally, CWM LLC increased its position in Turning Point Brands by 17.6% during the 3rd quarter. CWM LLC now owns 2,549 shares of the company’s stock valued at $252,000 after purchasing an additional 381 shares during the period. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Performance

NYSE:TPB opened at $92.83 on Tuesday. The company has a quick ratio of 4.12, a current ratio of 5.56 and a debt-to-equity ratio of 0.79. Turning Point Brands, Inc. has a twelve month low of $51.48 and a twelve month high of $146.90. The company has a fifty day moving average of $119.23 and a 200-day moving average of $105.65. The firm has a market capitalization of $1.78 billion, a P/E ratio of 29.66 and a beta of 0.85.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be given a dividend of $0.08 per share. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. Turning Point Brands’s payout ratio is currently 9.58%.

Insider Activity

In other Turning Point Brands news, Director H.C. Charles Diao sold 2,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $108.20, for a total value of $216,400.00. Following the transaction, the director owned 9,804 shares in the company, valued at approximately $1,060,792.80. This represents a 16.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David Edward Glazek sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $110.26, for a total value of $3,307,800.00. Following the completion of the sale, the chairman directly owned 127,083 shares of the company’s stock, valued at $14,012,171.58. This trade represents a 19.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,000 shares of company stock worth $3,719,340 in the last three months. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TPB shares. Oppenheimer restated an “outperform” rating and issued a $130.00 price target on shares of Turning Point Brands in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Zacks Research lowered shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Turning Point Brands presently has an average rating of “Hold” and a consensus target price of $116.67.

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.