Riposte Capital LLC boosted its position in shares of Turning Point Brands, Inc. (NYSE:TPB – Free Report) by 50.0% in the first quarter, Holdings Channel reports. The firm owned 150,000 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Turning Point Brands accounts for 3.3% of Riposte Capital LLC’s investment portfolio, making the stock its 7th biggest holding. Riposte Capital LLC’s holdings in Turning Point Brands were worth $13,018,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Turning Point Brands by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock worth $606,000 after purchasing an additional 459 shares during the period. Russell Investments Group Ltd. increased its position in shares of 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 buying an additional 4,286 shares in the last quarter. First Trust Advisors LP increased its position in shares of 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 buying an additional 85,378 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in Turning Point Brands during the 2nd quarter worth $220,000. Finally, Qube Research & Technologies Ltd lifted its holdings in Turning Point Brands by 21.3% during the second 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 in the last quarter. Institutional investors own 96.12% of the company’s stock.
Insider Buying and Selling at Turning Point Brands
In related news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the transaction, the chief accounting officer directly owned 9,230 shares in the company, valued at approximately $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.40% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on Turning Point Brands
Turning Point Brands Trading Up 2.9%
NYSE TPB opened at $80.93 on Wednesday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 27.53 and a beta of 0.92. The stock’s 50 day moving average price is $83.77 and its two-hundred day moving average price is $95.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. Turning Point Brands, Inc. has a 52 week low of $65.80 and a 52 week high of $146.90.
Turning Point Brands (NYSE:TPB – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $124.28 million for the quarter, compared to the consensus estimate of $115.67 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. Turning Point Brands’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, analysts anticipate that Turning Point Brands, Inc. will post 1.39 earnings per share for the current fiscal year.
Turning Point Brands Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. 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.
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