Turning Point Brands, Inc. $TPB Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 54.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,735 shares of the company’s stock after selling 12,661 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.06% of Turning Point Brands worth $638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TPB. Northern Trust Corp grew its position in shares of Turning Point Brands by 7.9% during the fourth quarter. Northern Trust Corp now owns 160,386 shares of the company’s stock worth $9,639,000 after buying an additional 11,808 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in Turning Point Brands in the fourth quarter valued at approximately $957,000. Baird Financial Group Inc. acquired a new position in Turning Point Brands in the fourth quarter valued at approximately $201,000. Deutsche Bank AG boosted its holdings in Turning Point Brands by 49.6% in the fourth quarter. Deutsche Bank AG now owns 16,305 shares of the company’s stock valued at $980,000 after purchasing an additional 5,405 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 valued at $585,000 after purchasing an additional 330 shares in the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Turning Point Brands

In other news, CAO Brian Wigginton sold 10,800 shares of the company’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 transaction of $817,236.00. Following the completion of the sale, the chief accounting officer owned 10,171 shares in the company, valued at $769,639.57. This represents a 51.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lawrence Wexler sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $75.94, for a total value of $1,898,500.00. Following the sale, the director owned 330,186 shares of the company’s stock, valued at $25,074,324.84. This trade represents a 7.04% decrease in their position. The disclosure for this sale can be found here. 6.60% of the stock is owned by corporate insiders.

Turning Point Brands Price Performance

Shares of NYSE TPB opened at $102.39 on Friday. The company has a current ratio of 4.22, a quick ratio of 2.67 and a debt-to-equity ratio of 1.30. Turning Point Brands, Inc. has a twelve month low of $38.50 and a twelve month high of $102.90. The stock has a 50 day moving average of $89.37 and a two-hundred day moving average of $74.27. The stock has a market cap of $1.85 billion, a P/E ratio of 42.84 and a beta of 0.76.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.19. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The company had revenue of $116.63 million during the quarter, compared to analysts’ expectations of $107.30 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. On average, research analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The business also recently declared 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. This represents a $0.30 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 19th. Turning Point Brands’s dividend payout ratio is 12.55%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TPB shares. Zacks Research raised Turning Point Brands from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Oppenheimer upped their price target on Turning Point Brands from $85.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Needham & Company LLC started coverage on Turning Point Brands in a report on Friday, August 1st. They issued a “hold” rating for the company. Finally, Wall Street Zen downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $78.83.

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.