Aristides Capital LLC Sells 10,000 Shares of Turning Point Brands, Inc. $TPB

Aristides Capital LLC lowered its stake in Turning Point Brands, Inc. (NYSE:TPB) by 10.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,360 shares of the company’s stock after selling 10,000 shares during the period. Turning Point Brands accounts for 1.3% of Aristides Capital LLC’s portfolio, making the stock its 9th largest position. Aristides Capital LLC owned 0.47% of Turning Point Brands worth $8,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of TPB. Swiss National Bank lifted its stake in shares of Turning Point Brands by 2.4% in the 3rd quarter. Swiss National Bank now owns 34,700 shares of the company’s stock valued at $3,430,000 after purchasing an additional 800 shares during the period. Russell Investments Group Ltd. increased its holdings in Turning Point Brands by 570.4% in the third quarter. Russell Investments Group Ltd. now owns 30,745 shares of the company’s stock valued at $3,040,000 after purchasing an additional 26,159 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Turning Point Brands in the third quarter valued at about $678,000. First Trust Advisors LP lifted its stake in Turning Point Brands by 101.9% in the third quarter. First Trust Advisors LP now owns 286,658 shares of the company’s stock valued at $28,339,000 after buying an additional 144,663 shares during the period. Finally, Level Four Advisory Services LLC boosted its holdings in Turning Point Brands by 7.9% during the third quarter. Level Four Advisory Services LLC now owns 3,048 shares of the company’s stock worth $301,000 after buying an additional 224 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings restated 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 note on Saturday, January 17th. Oppenheimer restated an “outperform” rating and set a $130.00 price objective on shares of Turning Point Brands in a report on Wednesday, January 14th. Finally, Zacks Research lowered shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $116.67.

Insiders Place Their Bets

In other Turning Point Brands news, Director H.C. Charles Diao sold 2,000 shares of Turning Point Brands stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $108.20, for a total value of $216,400.00. Following the sale, the director owned 9,804 shares of the company’s stock, valued at $1,060,792.80. This trade represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew Flynn sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total value of $195,140.00. Following the completion of the sale, the chief financial officer owned 9,443 shares in the company, valued at approximately $921,353.51. This trade represents a 17.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 34,000 shares of company stock worth $3,719,340. Corporate insiders own 6.60% of the company’s stock.

Turning Point Brands Trading Down 2.0%

NYSE:TPB opened at $89.02 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 5.56 and a quick ratio of 4.12. The business’s 50-day simple moving average is $118.14 and its 200-day simple moving average is $105.38. Turning Point Brands, Inc. has a fifty-two week low of $51.48 and a fifty-two week high of $146.90. The stock has a market capitalization of $1.70 billion, a PE ratio of 28.44 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. Investors of record on Friday, March 20th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, March 20th. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.08. Turning Point Brands’s dividend payout ratio (DPR) is currently 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.