Anderson Hoagland & Co. Buys Shares of 9,300 Turning Point Brands, Inc. $TPB

Anderson Hoagland & Co. bought a new stake in Turning Point Brands, Inc. (NYSE:TPB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,300 shares of the company’s stock, valued at approximately $1,008,000.

A number of other institutional investors have also recently made changes to their positions in TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Turning Point Brands by 4.7% during the 1st 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 during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Turning Point Brands by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 91,741 shares of the company’s stock worth $6,951,000 after buying an additional 2,135 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Turning Point Brands by 1.4% in the second quarter. Geode Capital Management LLC now owns 509,743 shares of the company’s stock worth $38,629,000 after buying an additional 7,104 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in Turning Point Brands by 12.1% during the second 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 during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Turning Point Brands during the second quarter worth about $2,570,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Trading Down 3.4%

TPB opened at $85.70 on Friday. The stock has a market capitalization of $1.64 billion, a PE ratio of 27.38 and a beta of 0.85. Turning Point Brands, Inc. has a one year low of $51.48 and a one year high of $146.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.12 and a current ratio of 5.56. The business’s 50 day moving average price is $116.58 and its 200 day moving average price is $105.08.

Turning Point Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 20th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, March 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. 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%.

Analyst Ratings Changes

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

Insider Activity

In related news, 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 sale, the chief financial officer directly owned 9,443 shares in the company, valued at approximately $921,353.51. The trade was a 17.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.60% of the company’s stock.

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.