Calamos Advisors LLC Invests $865,000 in Turning Point Brands, Inc. $TPB

Calamos Advisors LLC purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,745 shares of the company’s stock, valued at approximately $865,000.

Several other hedge funds have also bought and sold shares of TPB. GAMMA Investing LLC grew its holdings in Turning Point Brands by 90.7% in the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock worth $25,000 after purchasing an additional 156 shares during the period. CWM LLC boosted its position in shares of Turning Point Brands by 17.6% in the 3rd quarter. CWM LLC now owns 2,549 shares of the company’s stock worth $252,000 after purchasing an additional 381 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Turning Point Brands by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 8,540 shares of the company’s stock worth $647,000 after buying an additional 396 shares during the last quarter. Briaud Financial Planning Inc bought a new position in Turning Point Brands during the 2nd quarter valued at approximately $31,000. Finally, Police & Firemen s Retirement System of New Jersey increased its position in Turning Point Brands by 12.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,004 shares of the company’s stock valued at $303,000 after buying an additional 432 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Up 0.5%

TPB opened at $108.51 on Friday. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 38.21 and a beta of 0.86. The firm has a 50 day moving average price of $101.00 and a 200-day moving average price of $92.81. Turning Point Brands, Inc. has a twelve month low of $51.48 and a twelve month high of $113.31. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.82.

Turning Point Brands (NYSE:TPB) last posted its 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. The business had revenue of $118.98 million during the quarter, compared to the consensus estimate of $111.42 million. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. Equities research analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 19th. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. Turning Point Brands’s dividend payout ratio is currently 10.56%.

Wall Street Analysts Forecast Growth

TPB has been the topic of a number of recent research reports. Wall Street Zen raised Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Industrial Alliance Securities set a $110.00 price objective on shares of Turning Point Brands in a research report on Wednesday, November 5th. Oppenheimer raised their price objective on shares of Turning Point Brands from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Alliance Global Partners upped their target price on shares of Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Turning Point Brands currently has a consensus rating of “Buy” and a consensus target price of $102.50.

Insiders Place Their Bets

In related news, Director Lawrence Wexler sold 21,069 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $100.02, for a total value of $2,107,321.38. Following the transaction, the director owned 290,765 shares of the company’s stock, valued at approximately $29,082,315.30. This trade represents a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory H.A. Baxter sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $98.23, for a total transaction of $147,345.00. Following the sale, the director owned 38,919 shares of the company’s stock, valued at $3,823,013.37. This trade represents a 3.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 96,220 shares of company stock valued at $9,958,542. 6.60% of the stock is currently owned by company insiders.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.