Turning Point Brands, Inc. $TPB Shares Bought by Algert Global LLC

Algert Global LLC lifted its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 31.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,000 shares of the company’s stock after buying an additional 28,400 shares during the quarter. Algert Global LLC owned approximately 0.63% of Turning Point Brands worth $11,863,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Turning Point Brands by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock worth $606,000 after purchasing an additional 459 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Turning Point Brands by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 91,741 shares of the company’s stock worth $6,951,000 after acquiring an additional 2,135 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Turning Point Brands in the 2nd quarter valued at about $1,068,000. Geode Capital Management LLC increased its holdings in shares of Turning Point Brands by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 509,743 shares of the company’s stock valued at $38,629,000 after acquiring an additional 7,104 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of 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 worth $303,000 after acquiring an additional 432 shares in the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Turning Point Brands

In related news, CFO Andrew Flynn sold 2,000 shares of Turning Point Brands stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total transaction of $195,140.00. Following the completion of the transaction, the chief financial officer directly owned 9,443 shares in the company, valued at $921,353.51. The trade was a 17.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $3,307,800.00. Following the transaction, the chairman directly owned 127,083 shares of the company’s stock, valued at $14,012,171.58. The trade was a 19.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Turning Point Brands Trading Up 2.0%

Shares of TPB stock opened at $90.71 on Monday. The company has a market capitalization of $1.74 billion, a P/E ratio of 28.98 and a beta of 0.85. The company has a current ratio of 5.56, a quick ratio of 4.12 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $117.75 and its two-hundred day moving average is $105.43. Turning Point Brands, Inc. has a twelve month low of $51.48 and a twelve month high of $146.90.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, March 20th. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.08. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. 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.