Militia Capital Management LLC Purchases New Holdings in Turning Point Brands, Inc. $TPB

Militia Capital Management LLC purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 40,000 shares of the company’s stock, valued at approximately $3,472,000.

A number of other hedge funds have also bought and sold shares of TPB. Vanguard Group Inc. boosted its position in Turning Point Brands by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company’s stock worth $157,331,000 after purchasing an additional 61,311 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Turning Point Brands by 28.9% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company’s stock valued at $94,281,000 after purchasing an additional 194,938 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Turning Point Brands by 4.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company’s stock valued at $91,820,000 after purchasing an additional 38,437 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Turning Point Brands by 39.6% during the 1st quarter. First Trust Advisors LP now owns 689,905 shares of the company’s stock worth $59,877,000 after purchasing an additional 195,643 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Turning Point Brands by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 541,667 shares of the company’s stock worth $58,728,000 after purchasing an additional 28,463 shares during the period. 96.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on TPB shares. BTIG Research initiated coverage on shares of Turning Point Brands in a research report on Tuesday. They set a “buy” rating and a $103.00 price target for the company. Compass Point set a $103.00 price objective on shares of Turning Point Brands in a research report on Tuesday. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Friday, May 8th. Finally, 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. Four 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.50.

Insider Buying and Selling at Turning Point Brands

In other news, CAO Brian Wigginton sold 4,000 shares of Turning Point Brands stock in a transaction dated 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 owned 9,230 shares in the company, valued at $846,114.10. This trade represents a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is owned by insiders.

Turning Point Brands Stock Down 1.7%

Shares of NYSE TPB opened at $78.18 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05. The stock has a market capitalization of $1.51 billion, a PE ratio of 26.59 and a beta of 0.92. Turning Point Brands, Inc. has a one year low of $65.80 and a one year high of $146.90. The business’s fifty day moving average price is $84.78 and its 200-day moving average price is $95.88.

Turning Point Brands (NYSE:TPB) last announced 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 return on equity of 16.54% and a net margin of 11.53%.The company had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. During the same quarter last year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities research analysts anticipate that Turning Point Brands, Inc. will post 1.39 EPS for the current year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 19th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Thursday, June 18th. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.88%.

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.