Turning Point Brands, Inc. $TPB Shares Sold by Seizert Capital Partners LLC

Seizert Capital Partners LLC decreased its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 57.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,293 shares of the company’s stock after selling 4,499 shares during the period. Seizert Capital Partners LLC’s holdings in Turning Point Brands were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of TPB. GAMMA Investing LLC grew its holdings in shares of Turning Point Brands by 90.7% during the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock valued at $25,000 after purchasing an additional 156 shares during the last quarter. Briaud Financial Planning Inc bought a new position in Turning Point Brands during the 2nd quarter worth $31,000. IFP Advisors Inc increased its position in Turning Point Brands by 97,250.0% in the first quarter. IFP Advisors Inc now owns 3,894 shares of the company’s stock worth $231,000 after buying an additional 3,890 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Turning Point Brands in the second quarter valued at $235,000. Finally, Longboard Asset Management LP bought a new position in shares of Turning Point Brands during the second quarter worth about $236,000. Institutional investors own 96.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Zacks Research upgraded shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. Wall Street Zen raised Turning Point Brands from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Turning Point Brands in a research report on Thursday, October 30th. Oppenheimer raised their target price on Turning Point Brands from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Industrial Alliance Securities set a $110.00 price target on Turning Point Brands in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $97.00.

Insider Buying and Selling at Turning Point Brands

In other news, Director Lawrence Wexler sold 21,069 shares of Turning Point Brands stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $100.02, for a total value of $2,107,321.38. Following the transaction, the director owned 290,765 shares of the company’s stock, valued at $29,082,315.30. The trade was a 6.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 46,470 shares of company stock worth $4,635,682. Company insiders own 6.60% of the company’s stock.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $101.88 on Thursday. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 35.87 and a beta of 0.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98. Turning Point Brands, Inc. has a 12 month low of $51.48 and a 12 month high of $110.55. The stock’s 50 day moving average price is $95.34 and its 200 day moving average price is $86.36.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.46. The company had revenue of $118.98 million for the quarter, compared to analysts’ expectations of $111.42 million. Turning Point Brands had a return on equity of 24.44% and a net margin of 12.02%.The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. Equities research analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, December 19th. Turning Point Brands’s dividend payout ratio is presently 10.56%.

Turning Point Brands Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.