AWH Capital L.P. Purchases New Holdings in Turning Point Brands, Inc. $TPB

AWH Capital L.P. acquired a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 45,000 shares of the company’s stock, valued at approximately $3,410,000. Turning Point Brands makes up about 4.0% of AWH Capital L.P.’s portfolio, making the stock its 15th largest position. AWH Capital L.P. owned approximately 0.25% of Turning Point Brands 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 the business. Divisadero Street Capital Management LP lifted its holdings in shares of Turning Point Brands by 187.5% during the second quarter. Divisadero Street Capital Management LP now owns 943,784 shares of the company’s stock valued at $71,511,000 after purchasing an additional 615,521 shares during the last quarter. Geode Capital Management LLC increased its position in Turning Point Brands by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 509,743 shares of the company’s stock valued at $38,629,000 after buying an additional 7,104 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Turning Point Brands by 15.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 330,182 shares of the company’s stock valued at $25,018,000 after buying an additional 44,179 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new stake in Turning Point Brands in the second quarter worth $18,458,000. Finally, Northern Right Capital Management L.P. boosted its holdings in Turning Point Brands by 63.9% in the first quarter. Northern Right Capital Management L.P. now owns 220,178 shares of the company’s stock worth $13,087,000 after acquiring an additional 85,824 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, Director Stephen Usher sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $101.00, for a total value of $101,000.00. Following the transaction, the director directly owned 5,175 shares of the company’s stock, valued at approximately $522,675. This trade represents a 16.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brittani Cushman sold 15,250 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $101.66, for a total value of $1,550,315.00. Following the sale, the senior vice president owned 34,687 shares of the company’s stock, valued at approximately $3,526,280.42. This represents a 30.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,220 shares of company stock valued at $6,434,342 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $105.19 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 37.04 and a beta of 0.89. The business has a 50-day simple moving average of $95.54 and a two-hundred day simple moving average of $89.54. Turning Point Brands, Inc. has a fifty-two week low of $51.48 and a fifty-two week high of $110.55.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.46. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The firm had revenue of $118.98 million during the quarter, compared to analyst estimates of $111.42 million. During the same period in the previous year, the business posted $0.68 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts expect 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 announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 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 of this dividend is Friday, December 19th. Turning Point Brands’s payout ratio is 10.56%.

Analyst Upgrades and Downgrades

TPB has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Turning Point Brands in a report on Thursday, October 30th. Zacks Research upgraded shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 12th. Industrial Alliance Securities set a $110.00 target price on shares of Turning Point Brands in a report on Wednesday, November 5th. Oppenheimer upped their target price on shares of Turning Point Brands from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Finally, Alliance Global Partners raised their price target on shares of Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Turning Point Brands has a consensus rating of “Buy” and an average target price of $102.50.

Turning Point Brands Company 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.