7,872 Shares in Turning Point Brands, Inc. $TPB Acquired by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in Turning Point Brands, Inc. (NYSE:TPB) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,872 shares of the company’s stock, valued at approximately $667,000.

Several other large investors also recently made changes to their positions in the stock. Kemnay Advisory Services Inc. acquired a new position in Turning Point Brands during the 4th quarter worth approximately $27,000. Empowered Funds LLC acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Turning Point Brands in the third quarter worth $28,000. Advisory Services Network LLC bought a new stake in shares of Turning Point Brands in the third quarter worth $28,000. Finally, Covestor Ltd boosted its holdings in Turning Point Brands by 16.3% during the fourth quarter. Covestor Ltd now owns 663 shares of the company’s stock worth $72,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

TPB has been the topic of several recent analyst reports. Compass Point set a $116.00 price objective on shares of Turning Point Brands in a research note on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a report on Friday, August 28th. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Finally, BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $115.67.

Turning Point Brands Trading Up 0.4%

Shares of TPB stock opened at $75.49 on Monday. Turning Point Brands, Inc. has a fifty-two week low of $65.80 and a fifty-two week high of $146.90. The stock’s fifty day moving average price is $82.94 and its two-hundred day moving average price is $87.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. The company has a market cap of $1.46 billion, a PE ratio of 32.40 and a beta of 0.94.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The company had revenue of $142.96 million during the quarter, compared to the consensus estimate of $129.56 million. During the same period in the prior year, the business earned $0.98 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. Equities analysts predict that Turning Point Brands, Inc. will post 1.23 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, September 18th. Turning Point Brands’s payout ratio is currently 13.73%.

Turning Point Brands Company 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.