Apis Capital Advisors LLC Has $5.68 Million Holdings in Turning Point Brands, Inc. $TPB

Apis Capital Advisors LLC increased its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 19.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,429 shares of the company’s stock after purchasing an additional 9,429 shares during the period. Turning Point Brands comprises about 1.3% of Apis Capital Advisors LLC’s investment portfolio, making the stock its 21st largest position. Apis Capital Advisors LLC owned about 0.30% of Turning Point Brands worth $5,677,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Raymond James Financial Inc. boosted its stake in Turning Point Brands by 2,078.1% during the third quarter. Raymond James Financial Inc. now owns 4,770 shares of the company’s stock worth $472,000 after buying an additional 4,551 shares in the last quarter. Prospect Capital Advisors LLC increased its holdings in Turning Point Brands by 172.5% in the 3rd quarter. Prospect Capital Advisors LLC now owns 93,600 shares of the company’s stock valued at $9,253,000 after buying an additional 59,250 shares during the period. Fund 1 Investments LLC acquired a new position in shares of Turning Point Brands in the 3rd quarter valued at $3,895,000. Man Group plc raised its stake in shares of Turning Point Brands by 152.1% in the 3rd quarter. Man Group plc now owns 16,648 shares of the company’s stock valued at $1,646,000 after buying an additional 10,044 shares in the last quarter. Finally, Osterweis Capital Management Inc. lifted its holdings in shares of Turning Point Brands by 131.7% during the 3rd quarter. Osterweis Capital Management Inc. now owns 83,580 shares of the company’s stock worth $8,263,000 after acquiring an additional 47,515 shares during the period. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TPB shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Wall Street Zen lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Zacks Research cut shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Turning Point Brands in a report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $116.67.

Insider Transactions at Turning Point Brands

In other news, Chairman David Edward Glazek sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the transaction, the chairman directly owned 127,083 shares in the company, valued at approximately $14,012,171.58. This represents a 19.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director H.C. Charles Diao sold 2,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $108.20, for a total transaction of $216,400.00. Following the sale, the director directly owned 9,804 shares in the company, valued at $1,060,792.80. This trade represents a 16.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 34,000 shares of company stock worth $3,719,340. Corporate insiders own 6.60% of the company’s stock.

Turning Point Brands Stock Performance

Shares of NYSE:TPB opened at $90.71 on Friday. The business has a fifty day moving average of $117.75 and a 200-day moving average of $105.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.12 and a current ratio of 5.56. Turning Point Brands, Inc. has a twelve month low of $51.48 and a twelve month high of $146.90. The firm has a market cap of $1.74 billion, a PE ratio of 28.98 and a beta of 0.85.

Turning Point Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 20th will be paid a $0.08 dividend. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 20th. Turning Point Brands’s payout ratio is presently 9.58%.

Turning Point Brands 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.