GatePass Capital LLC Invests $1.12 Million in Turning Point Brands, Inc. $TPB

GatePass Capital LLC purchased a new position in Turning Point Brands, Inc. (NYSE:TPB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,323 shares of the company’s stock, valued at approximately $1,119,000. GatePass Capital LLC owned about 0.06% of Turning Point Brands at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position 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 buying an additional 156 shares during the period. First Horizon Corp bought a new position in shares of Turning Point Brands during the third quarter worth about $25,000. Briaud Financial Planning Inc acquired a new stake in shares of Turning Point Brands in the 2nd quarter worth about $31,000. State of Alaska Department of Revenue bought a new stake in Turning Point Brands in the 3rd quarter valued at about $74,000. Finally, Canada Pension Plan Investment Board acquired a new position in Turning Point Brands during the 2nd quarter valued at about $129,000. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Stock Up 0.9%

TPB opened at $119.02 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 company has a market capitalization of $2.27 billion, a PE ratio of 41.91 and a beta of 0.86. The stock’s fifty day moving average is $104.63 and its 200-day moving average is $95.66. Turning Point Brands, Inc. has a one year low of $51.48 and a one year high of $119.25.

Turning Point Brands (NYSE:TPB) last released its earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.46. Turning Point Brands had a return on equity of 24.44% and a net margin of 12.02%.The firm had revenue of $118.98 million for the quarter, compared to analyst estimates of $111.42 million. During the same period in the previous year, the company earned $0.68 earnings per share. Turning Point Brands’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, December 19th. Turning Point Brands’s dividend payout ratio (DPR) is presently 10.56%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Industrial Alliance Securities set a $110.00 price target on shares of Turning Point Brands in a research note on Wednesday, November 5th. Alliance Global Partners lifted their target price on Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Oppenheimer reiterated an “outperform” rating and set a $130.00 price target on shares of Turning Point Brands in a research report on Wednesday. Zacks Research lowered Turning Point Brands from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Turning Point Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.67.

Insider Activity

In other news, Chairman David Edward Glazek sold 30,000 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the completion of the sale, the chairman directly owned 127,083 shares of the company’s stock, valued at $14,012,171.58. This trade represents a 19.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen Usher sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $101.00, for a total value of $101,000.00. Following the sale, the director directly owned 5,175 shares in the company, valued at $522,675. This trade represents a 16.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 96,220 shares of company stock valued at $9,958,542 in the last ninety days. 6.60% of the stock is owned by company insiders.

Turning Point Brands Company Profile

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.