Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Turning Point Brands Inc (NYSE:TPB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,130 shares of the company’s stock, valued at approximately $55,000.
Several other large investors have also bought and sold shares of the company. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Turning Point Brands by 356.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,825 shares of the company’s stock valued at $77,000 after acquiring an additional 2,206 shares during the last quarter. Ibex Investors LLC acquired a new position in shares of Turning Point Brands in the 2nd quarter valued at $229,000. Rhumbline Advisers lifted its stake in shares of Turning Point Brands by 6.3% in the 1st quarter. Rhumbline Advisers now owns 10,770 shares of the company’s stock valued at $496,000 after purchasing an additional 635 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Turning Point Brands in the 1st quarter valued at $593,000. Finally, Garnet Equity Capital Holdings Inc. acquired a new position in shares of Turning Point Brands in the 2nd quarter valued at $735,000. Institutional investors and hedge funds own 31.40% of the company’s stock.
A number of equities analysts have weighed in on the stock. TheStreet upgraded shares of Turning Point Brands from a “c-” rating to a “b-” rating in a research report on Friday, May 10th. ValuEngine cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Tuesday, July 30th.
In other news, CFO Robert M. Lavan bought 2,500 shares of Turning Point Brands stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $37.03 per share, with a total value of $92,575.00. Following the completion of the acquisition, the chief financial officer now directly owns 6,000 shares in the company, valued at $222,180. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director H.C. Charles Diao bought 1,000 shares of Turning Point Brands stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $36.45 per share, for a total transaction of $36,450.00. Following the acquisition, the director now owns 16,000 shares of the company’s stock, valued at $583,200. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 5,763 shares of company stock valued at $214,343. 5.50% of the stock is currently owned by insiders.
Shares of Turning Point Brands stock traded down $0.95 during trading hours on Friday, reaching $37.79. 3,545 shares of the company’s stock were exchanged, compared to its average volume of 402,813. Turning Point Brands Inc has a 1 year low of $26.39 and a 1 year high of $57.06. The company has a market capitalization of $741.91 million, a P/E ratio of 21.88 and a beta of 0.64. The business has a fifty day moving average of $44.33 and a two-hundred day moving average of $45.49. The company has a quick ratio of 0.39, a current ratio of 1.78 and a debt-to-equity ratio of 1.80.
Turning Point Brands (NYSE:TPB) last announced its earnings results on Wednesday, July 31st. The company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The company had revenue of $93.30 million during the quarter, compared to analyst estimates of $93.30 million. Turning Point Brands had a net margin of 9.02% and a return on equity of 42.97%. Turning Point Brands’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. As a group, research analysts predict that Turning Point Brands Inc will post 1.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Thursday, September 19th. Turning Point Brands’s dividend payout ratio (DPR) is presently 10.53%.
Turning Point Brands Company Profile
Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products in the United States. The company operates in three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.
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