Y Intercept Hong Kong Ltd Has $1.74 Million Stake in Turning Point Brands, Inc. $TPB

Y Intercept Hong Kong Ltd trimmed its position in Turning Point Brands, Inc. (NYSE:TPB) by 36.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,008 shares of the company’s stock after selling 11,488 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Turning Point Brands were worth $1,736,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 buying an additional 459 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Turning Point Brands by 1,428.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company’s stock valued at $347,000 after acquiring an additional 4,286 shares in the last quarter. First Trust Advisors LP lifted its stake in Turning Point Brands by 150.8% in the 2nd quarter. First Trust Advisors LP now owns 141,995 shares of the company’s stock valued at $10,759,000 after acquiring an additional 85,378 shares in the last quarter. Baird Financial Group Inc. acquired a new position in Turning Point Brands during the 2nd quarter worth approximately $220,000. Finally, Qube Research & Technologies Ltd boosted its position in Turning Point Brands by 21.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company’s stock worth $13,852,000 after acquiring an additional 32,109 shares during the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

NYSE:TPB opened at $87.90 on Friday. Turning Point Brands, Inc. has a 52-week low of $65.80 and a 52-week high of $146.90. The company has a market cap of $1.70 billion, a P/E ratio of 29.90 and a beta of 0.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. The stock’s 50-day simple moving average is $85.72 and its 200 day simple moving average is $97.52.

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

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 19th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, June 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Turning Point Brands’s dividend payout ratio is currently 10.88%.

Insider Activity

In other news, CAO Brian Wigginton sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TPB. Weiss Ratings downgraded shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a 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 target price for the company in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $118.75.

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.