Vest Financial LLC Acquires Shares of 14,352 Turning Point Brands, Inc. $TPB

Vest Financial LLC bought a new position in Turning Point Brands, Inc. (NYSE:TPB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,352 shares of the company’s stock, valued at approximately $1,419,000. Vest Financial LLC owned about 0.08% of Turning Point Brands as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TPB. GAMMA Investing LLC raised its holdings in Turning Point Brands by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock valued at $25,000 after buying an additional 156 shares during the last quarter. First Horizon Corp bought a new position in shares of Turning Point Brands during the third quarter valued at about $25,000. Briaud Financial Planning Inc purchased a new stake in shares of Turning Point Brands during the second quarter worth about $31,000. State of Alaska Department of Revenue purchased a new stake in shares of Turning Point Brands during the third quarter worth about $74,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Turning Point Brands in the second quarter worth about $129,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Turning Point Brands

In related news, SVP Brittani Cushman sold 15,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $101.66, for a total transaction of $1,550,315.00. Following the completion of the transaction, the senior vice president owned 34,687 shares of the company’s stock, valued at $3,526,280.42. This trade represents a 30.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David Edward Glazek sold 30,000 shares of Turning Point Brands stock in a transaction on Friday, December 19th. The shares were sold at an average price of $110.26, for a total value of $3,307,800.00. Following the transaction, the chairman owned 127,083 shares of the company’s stock, valued at $14,012,171.58. The trade was a 19.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 96,220 shares of company stock valued at $9,958,542. 6.60% of the stock is currently owned by company insiders.

Turning Point Brands Price Performance

Shares of TPB stock opened at $117.69 on Friday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 41.44 and a beta of 0.86. The business’s fifty day moving average is $106.42 and its 200 day moving average is $97.06. Turning Point Brands, Inc. has a twelve month low of $51.48 and a twelve month high of $119.25. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.82.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Wednesday, November 5th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.46. The firm had revenue of $118.98 million for the quarter, compared to analysts’ expectations of $111.42 million. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. Research analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, December 19th. Turning Point Brands’s dividend payout ratio is 10.56%.

Analyst Upgrades and Downgrades

A number of research firms have commented on TPB. Industrial Alliance Securities set a $110.00 price target on Turning Point Brands in a research report on Wednesday, November 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Turning Point Brands in a research note on Wednesday, January 14th. Alliance Global Partners boosted their price objective on shares of Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Zacks Research lowered shares of Turning Point Brands from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.67.

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.