Maple Rock Capital Partners Inc. Grows Stock Holdings in Turning Point Brands, Inc. $TPB

Maple Rock Capital Partners Inc. grew its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 57.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 686,800 shares of the company’s stock after acquiring an additional 250,800 shares during the period. Turning Point Brands comprises 1.2% of Maple Rock Capital Partners Inc.’s portfolio, making the stock its 26th largest position. Maple Rock Capital Partners Inc. owned 3.55% of Turning Point Brands worth $58,248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new stake in shares of Turning Point Brands in the fourth quarter worth about $27,000. Empowered Funds LLC bought a new position in Turning Point Brands during the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in Turning Point Brands during the 3rd quarter valued at approximately $28,000. Advisory Services Network LLC purchased a new stake in Turning Point Brands in the 3rd quarter worth approximately $28,000. Finally, Covestor Ltd lifted its holdings in Turning Point Brands by 16.3% in the 4th quarter. Covestor Ltd now owns 663 shares of the company’s stock worth $72,000 after buying an additional 93 shares during the period. 96.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

TPB has been the topic of a number of recent analyst reports. Compass Point set a $116.00 price objective on Turning Point Brands in a research report on Monday, August 10th. BTIG Research restated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. 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 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 report 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 report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Turning Point Brands currently has a consensus rating of “Moderate Buy” and an average price target of $115.67.

Turning Point Brands Stock Down 3.5%

Shares of NYSE:TPB opened at $80.99 on Tuesday. Turning Point Brands, Inc. has a 52-week low of $65.80 and a 52-week high of $146.90. The firm has a market capitalization of $1.57 billion, a P/E ratio of 34.76 and a beta of 0.92. The stock has a 50 day moving average price of $83.52 and a 200-day moving average price of $89.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.11. The company had revenue of $142.96 million for the quarter, compared to analyst estimates of $129.56 million. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%.The firm’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts anticipate that Turning Point Brands, Inc. will post 1.23 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, September 18th. Turning Point Brands’s payout ratio is 13.73%.

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.