ArrowMark Colorado Holdings LLC Has $66.71 Million Stock Position in Turning Point Brands, Inc. $TPB

ArrowMark Colorado Holdings LLC increased its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 24.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 674,809 shares of the company’s stock after acquiring an additional 134,401 shares during the quarter. Turning Point Brands comprises approximately 1.2% of ArrowMark Colorado Holdings LLC’s holdings, making the stock its 23rd largest holding. ArrowMark Colorado Holdings LLC owned 3.54% of Turning Point Brands worth $66,712,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Arizona State Retirement System grew its position in Turning Point Brands by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 5,297 shares of the company’s stock worth $524,000 after purchasing an additional 114 shares during the last quarter. Huntington National Bank raised its position in shares of Turning Point Brands by 54.9% during the third quarter. Huntington National Bank now owns 457 shares of the company’s stock valued at $45,000 after buying an additional 162 shares during the last quarter. Boston Partners lifted its stake in shares of Turning Point Brands by 1.5% in the third quarter. Boston Partners now owns 13,712 shares of the company’s stock valued at $1,356,000 after buying an additional 206 shares during the period. Level Four Advisory Services LLC grew its position 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 in the last quarter. Finally, First Horizon Corp bought a new position in Turning Point Brands during the third quarter valued at about $25,000. 96.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TPB shares. Zacks Research cut Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Oppenheimer restated an “outperform” rating and issued a $130.00 target price on shares of Turning Point Brands in a research note on Wednesday, January 14th. Finally, Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average 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 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 sale, the chairman directly owned 127,083 shares of the company’s stock, valued at $14,012,171.58. This represents a 19.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director H.C. Charles Diao sold 2,000 shares of the firm’s 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 completion of the sale, the director directly owned 9,804 shares of the company’s stock, valued at approximately $1,060,792.80. This represents a 16.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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

Turning Point Brands stock opened at $90.71 on Friday. The stock has a 50-day simple moving average of $117.75 and a 200 day simple moving average of $105.38. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 28.98 and a beta of 0.85. The company has a quick ratio of 4.12, a current ratio of 5.56 and a debt-to-equity ratio of 0.79. Turning Point Brands, Inc. has a 12-month low of $51.48 and a 12-month high of $146.90.

Turning Point Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be given a dividend of $0.08 per share. The ex-dividend date 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 dividend on an annualized basis and a dividend yield of 0.4%. Turning Point Brands’s dividend payout ratio (DPR) is currently 9.58%.

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.