IFP Advisors Inc Buys 3,890 Shares of Turning Point Brands, Inc. (NYSE:TPB)

IFP Advisors Inc lifted its stake in Turning Point Brands, Inc. (NYSE:TPB) by 97,250.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,894 shares of the company’s stock after buying an additional 3,890 shares during the period. IFP Advisors Inc’s holdings in Turning Point Brands were worth $231,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Virtus Fund Advisers LLC purchased a new stake in Turning Point Brands during the 4th quarter valued at $48,000. Sunbelt Securities Inc. bought a new position in shares of Turning Point Brands during the fourth quarter valued at about $96,000. Tower Research Capital LLC TRC boosted its holdings in shares of Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after purchasing an additional 532 shares during the period. Baird Financial Group Inc. bought a new stake in shares of Turning Point Brands in the fourth quarter worth about $201,000. Finally, Prescott General Partners LLC purchased a new position in Turning Point Brands during the 4th quarter valued at about $210,000. Institutional investors own 96.12% of the company’s stock.

Insider Activity

In other news, Director Gregory H.A. Baxter sold 1,500 shares of Turning Point Brands stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $73.64, for a total value of $110,460.00. Following the completion of the transaction, the director owned 40,419 shares of the company’s stock, valued at $2,976,455.16. The trade was a 3.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Graham Purdy sold 30,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $75.03, for a total transaction of $2,250,900.00. Following the sale, the chief executive officer directly owned 227,466 shares in the company, valued at $17,066,773.98. This trade represents a 11.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,300 shares of company stock valued at $8,666,867. 6.60% of the stock is currently owned by insiders.

Turning Point Brands Price Performance

Shares of TPB opened at $78.30 on Monday. The firm’s 50-day simple moving average is $74.86 and its two-hundred day simple moving average is $66.62. Turning Point Brands, Inc. has a fifty-two week low of $34.78 and a fifty-two week high of $81.25. The stock has a market cap of $1.40 billion, a PE ratio of 34.34 and a beta of 0.75. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.64 and a current ratio of 4.42.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.16. Turning Point Brands had a return on equity of 27.70% and a net margin of 10.19%. The company had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. During the same quarter in the prior year, the business posted $0.63 EPS. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. Analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th were issued a dividend of $0.075 per share. The ex-dividend date was Friday, June 20th. This represents a $0.30 annualized dividend and a dividend yield of 0.38%. Turning Point Brands’s payout ratio is presently 13.16%.

Analysts Set New Price Targets

TPB has been the subject of a number of recent analyst reports. Wall Street Zen lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday. Oppenheimer upped their target price on Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $76.67.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.