Cibc World Market Inc. Buys New Shares in Turning Point Brands, Inc. $TPB

Cibc World Market Inc. bought a new position in Turning Point Brands, Inc. (NYSE:TPB) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 10,886 shares of the company’s stock, valued at approximately $923,000.

A number of other institutional investors have also bought and sold shares of TPB. Apis Capital Advisors LLC boosted its stake in Turning Point Brands by 186.2% in the 4th quarter. Apis Capital Advisors LLC now owns 164,377 shares of the company’s stock worth $17,818,000 after purchasing an additional 106,948 shares during the period. SWP Investment Management LLC bought a new stake in shares of Turning Point Brands during the second quarter valued at approximately $2,174,000. Norris Financial Group LLC bought a new stake in shares of Turning Point Brands during the first quarter valued at approximately $4,151,000. Bronte Capital Management Pty Ltd. purchased a new position in shares of Turning Point Brands in the fourth quarter worth $2,642,000. Finally, AWH Capital L.P. lifted its holdings in shares of Turning Point Brands by 45.1% in the fourth quarter. AWH Capital L.P. now owns 69,450 shares of the company’s stock worth $7,528,000 after buying an additional 21,600 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 subject of a number of research reports. BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a research note on Monday, August 10th. Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Weiss Ratings cut shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Compass Point set a $116.00 price objective on shares of Turning Point Brands in a report on Monday, August 10th. Finally, Needham & Company LLC upgraded 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. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

Turning Point Brands Stock Down 4.1%

Shares of TPB opened at $84.41 on Friday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 36.23 and a beta of 0.91. Turning Point Brands, Inc. has a 1 year low of $65.80 and a 1 year high of $146.90. The business’s 50 day simple moving average is $83.36 and its 200-day simple moving average is $89.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16.

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

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands’s dividend payout ratio is presently 13.73%.

Turning Point Brands Company 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.