Manatuck Hill Partners LLC Acquires Shares of 10,000 Turning Point Brands, Inc. $TPB

Manatuck Hill Partners LLC acquired a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $848,000.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in shares of Turning Point Brands by 16.3% in the fourth quarter. Covestor Ltd now owns 663 shares of the company’s stock valued at $72,000 after acquiring an additional 93 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Turning Point Brands by 5.5% during the fourth quarter. Osaic Holdings Inc. now owns 1,888 shares of the company’s stock worth $205,000 after purchasing an additional 98 shares in the last quarter. CWM LLC lifted its position in Turning Point Brands by 6.2% in the fourth quarter. CWM LLC now owns 2,706 shares of the company’s stock valued at $293,000 after purchasing an additional 157 shares during the period. Boston Partners lifted its position in Turning Point Brands by 1.5% in the third quarter. Boston Partners now owns 13,712 shares of the company’s stock valued at $1,356,000 after purchasing an additional 206 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Turning Point Brands by 1.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,082 shares of the company’s stock valued at $2,502,000 after purchasing an additional 243 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Trading Up 3.1%

Shares of TPB opened at $86.07 on Wednesday. Turning Point Brands, Inc. has a twelve month low of $65.80 and a twelve month high of $146.90. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1.67 billion, a P/E ratio of 36.94 and a beta of 0.91. The firm’s 50-day moving average is $83.14 and its two-hundred day moving average is $90.26.

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

Turning Point Brands Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Compass Point set a $116.00 target price on Turning Point Brands in a research report on Monday, August 10th. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Friday, May 8th. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $115.67.

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.