Madison Avenue Partners LP Buys New Holdings in Turning Point Brands, Inc. $TPB

Madison Avenue Partners LP acquired a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) in the 4th quarter, Holdings Channel.com reports. The firm acquired 247,723 shares of the company’s stock, valued at approximately $26,853,000. Turning Point Brands comprises about 1.2% of Madison Avenue Partners LP’s investment portfolio, making the stock its 17th biggest position.

Several other hedge funds have also recently bought and sold shares of TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Turning Point Brands by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock worth $606,000 after acquiring an additional 459 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Turning Point Brands by 1,428.7% in the second quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company’s stock valued at $347,000 after buying an additional 4,286 shares in the last quarter. First Trust Advisors LP raised its position in shares of Turning Point Brands by 150.8% in the second quarter. First Trust Advisors LP now owns 141,995 shares of the company’s stock valued at $10,759,000 after buying an additional 85,378 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in shares of Turning Point Brands in the second quarter valued at approximately $220,000. Finally, Qube Research & Technologies Ltd raised its position in shares of Turning Point Brands by 21.3% in the second quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company’s stock valued at $13,852,000 after buying an additional 32,109 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

Shares of NYSE TPB opened at $79.55 on Thursday. The firm’s 50-day moving average price is $83.78 and its 200-day moving average price is $99.67. Turning Point Brands, Inc. has a 1-year low of $65.80 and a 1-year high of $146.90. The firm has a market capitalization of $1.54 billion, a P/E ratio of 27.06 and a beta of 0.92. 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 (NYSE:TPB) last released 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. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The firm had revenue of $124.28 million for the quarter, compared to the consensus estimate of $115.67 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. The business’s revenue was up 16.8% on a year-over-year basis. Equities research analysts anticipate that Turning Point Brands, Inc. will post 1.43 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Turning Point Brands’s dividend payout ratio (DPR) is 10.88%.

Insider Buying and Selling

In related news, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.40% of the company’s stock.

Analyst Ratings Changes

TPB has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. 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 report on Friday, May 8th. Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Zacks Research downgraded shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $118.75.

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.