Swiss National Bank Purchases 1,200 Shares of Turning Point Brands, Inc. $TPB

Swiss National Bank lifted its position in Turning Point Brands, Inc. (NYSE:TPB) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,300 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. Swiss National Bank owned about 0.19% of Turning Point Brands worth $2,039,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TPB. Northern Right Capital Management L.P. increased its holdings in shares of Turning Point Brands by 356.6% in the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company’s stock worth $8,075,000 after purchasing an additional 104,931 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Turning Point Brands by 122.3% in the first quarter. Teacher Retirement System of Texas now owns 121,804 shares of the company’s stock worth $7,240,000 after purchasing an additional 67,005 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Turning Point Brands during the first quarter worth approximately $3,921,000. Invesco Ltd. increased its stake in Turning Point Brands by 205.8% during the fourth quarter. Invesco Ltd. now owns 97,261 shares of the company’s stock worth $5,845,000 after acquiring an additional 65,457 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Turning Point Brands by 102.8% during the fourth quarter. AQR Capital Management LLC now owns 106,478 shares of the company’s stock worth $6,399,000 after acquiring an additional 53,979 shares during the last quarter. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Trading Down 0.5%

TPB opened at $98.7250 on Friday. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 41.31 and a beta of 0.66. The stock’s 50 day moving average price is $81.96 and its 200-day moving average price is $71.15. Turning Point Brands, Inc. has a one year low of $38.08 and a one year high of $102.90. 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 (NYSE:TPB) last released its earnings results on Wednesday, August 6th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.19. The firm had revenue of $116.63 million for the quarter, compared to analysts’ expectations of $107.30 million. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The company’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. On average, equities analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 19th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.3%. Turning Point Brands’s dividend payout ratio is currently 12.55%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TPB shares. Needham & Company LLC started coverage on Turning Point Brands in a research note on Friday, August 1st. They set a “hold” rating on the stock. Zacks Research raised Turning Point Brands from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Oppenheimer boosted their price objective on Turning Point Brands from $85.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen cut Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Turning Point Brands has an average rating of “Buy” and a consensus price target of $78.83.

Insider Activity

In related news, CAO Brian Wigginton sold 10,800 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.67, for a total value of $817,236.00. Following the completion of the sale, the chief accounting officer owned 10,171 shares in the company, valued at approximately $769,639.57. The trade was a 51.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brittani Cushman sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $74.36, for a total value of $557,700.00. Following the completion of the sale, the senior vice president owned 34,687 shares of the company’s stock, valued at $2,579,325.32. The trade was a 17.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,300 shares of company stock valued at $8,291,282. 6.60% of the stock is currently owned by corporate insiders.

Turning Point Brands Profile

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.