Dynamic Technology Lab Private Ltd Purchases New Stake in Turning Point Brands, Inc. $TPB

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Turning Point Brands, Inc. (NYSE:TPB) in the third quarter, Holdings Channel reports. The firm purchased 6,858 shares of the company’s stock, valued at approximately $678,000.

Other institutional investors have also recently bought and sold shares of the company. First Horizon Corp bought a new position in shares of Turning Point Brands in the third quarter valued at $25,000. Huntington National Bank increased 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 worth $45,000 after acquiring an additional 162 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Turning Point Brands during the third quarter worth about $74,000. Canada Pension Plan Investment Board acquired a new stake in shares of Turning Point Brands in the 2nd quarter worth about $129,000. Finally, Lazard Asset Management LLC raised its holdings in shares of Turning Point Brands by 33.5% in the 2nd quarter. Lazard Asset Management LLC now owns 1,842 shares of the company’s stock worth $139,000 after acquiring an additional 462 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Stock Up 1.3%

TPB opened at $92.83 on Tuesday. Turning Point Brands, Inc. has a fifty-two week low of $51.48 and a fifty-two week high of $146.90. The firm has a market capitalization of $1.78 billion, a P/E ratio of 29.66 and a beta of 0.85. The company’s 50-day moving average is $119.23 and its 200 day moving average is $105.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 5.56 and a quick ratio of 4.12.

Turning Point Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 20th will be paid a $0.08 dividend. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 20th. This represents a $0.32 annualized dividend and a yield of 0.3%. Turning Point Brands’s dividend payout ratio (DPR) is 9.58%.

Insiders Place Their Bets

In other news, Chairman David Edward Glazek sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $110.26, for a total value of $3,307,800.00. Following the transaction, the chairman owned 127,083 shares in the company, valued at $14,012,171.58. The trade was a 19.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director H.C. Charles Diao sold 2,000 shares of the company’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 value of $216,400.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,000 shares of company stock valued at $3,719,340 in the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $130.00 price target on shares of Turning Point Brands in a research note on Wednesday, January 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Zacks Research lowered Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Wall Street Zen cut Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Three 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’s stock. According to MarketBeat.com, Turning Point Brands currently has a consensus rating of “Hold” and a consensus price target of $116.67.

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.