Deutsche Bank AG Acquires 37,827 Shares of Turning Point Brands, Inc. $TPB

Deutsche Bank AG grew its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 232.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,132 shares of the company’s stock after acquiring an additional 37,827 shares during the quarter. Deutsche Bank AG owned 0.30% of Turning Point Brands worth $3,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Arizona State Retirement System boosted its position in shares of Turning Point Brands by 4.1% in the first quarter. Arizona State Retirement System now owns 5,083 shares of the company’s stock valued at $302,000 after acquiring an additional 199 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Turning Point Brands by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company’s stock worth $585,000 after purchasing an additional 330 shares during the period. Rhumbline Advisers lifted its position in Turning Point Brands by 1.9% in the first quarter. Rhumbline Advisers now owns 24,531 shares of the company’s stock worth $1,458,000 after purchasing an additional 464 shares during the period. Tower Research Capital LLC TRC lifted its position in Turning Point Brands by 29.0% in 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. Finally, MetLife Investment Management LLC lifted its position in Turning Point Brands by 6.0% in the fourth quarter. MetLife Investment Management LLC now owns 10,373 shares of the company’s stock worth $623,000 after purchasing an additional 587 shares during the period. 96.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on TPB. Needham & Company LLC began coverage on Turning Point Brands in a research report on Friday, August 1st. They issued a “hold” rating for the company. Oppenheimer raised their target price on Turning Point Brands from $85.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, Wall Street Zen cut Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Turning Point Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.83.

Insider Transactions at Turning Point Brands

In related news, CEO Graham Purdy sold 21,400 shares of Turning Point Brands stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $74.89, for a total value of $1,602,646.00. Following the completion of the sale, the chief executive officer directly owned 227,466 shares in the company, valued at $17,034,928.74. This trade represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen Usher sold 600 shares of Turning Point Brands stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $75.25, for a total value of $45,150.00. Following the completion of the sale, the director owned 6,175 shares of the company’s stock, valued at approximately $464,668.75. The trade was a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,300 shares of company stock valued at $8,291,282. 6.60% of the stock is currently owned by insiders.

Turning Point Brands Stock Down 0.0%

Shares of NYSE TPB opened at $98.55 on Tuesday. The business has a fifty day moving average of $80.12 and a two-hundred day moving average of $70.20. The stock has a market cap of $1.78 billion, a PE ratio of 41.23 and a beta of 0.66. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.67 and a current ratio of 4.22. Turning Point Brands, Inc. has a 52-week low of $38.08 and a 52-week high of $102.90.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.19. The business had revenue of $116.63 million for the quarter, compared to the consensus estimate of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. As a group, equities research analysts expect that Turning Point Brands, Inc. will post 2.59 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 10th. Investors of record on Friday, September 19th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, September 19th. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.55%.

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.