CSM Advisors LLC Trims Position in Turning Point Brands, Inc. $TPB

CSM Advisors LLC lowered its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 55.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,545 shares of the company’s stock after selling 19,540 shares during the quarter. CSM Advisors LLC owned approximately 0.08% of Turning Point Brands worth $1,535,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of TPB. First Horizon Corp acquired a new stake in shares of Turning Point Brands during the third quarter worth $25,000. Huntington National Bank increased its stake in Turning Point Brands by 54.9% in the third quarter. Huntington National Bank now owns 457 shares of the company’s stock valued at $45,000 after purchasing an additional 162 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Turning Point Brands in the third quarter valued at $74,000. Canada Pension Plan Investment Board purchased a new position in Turning Point Brands during the second quarter worth about $129,000. Finally, Lazard Asset Management LLC boosted its stake in 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 buying an additional 462 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Stock Performance

Shares of NYSE:TPB opened at $92.36 on Tuesday. The firm has a market capitalization of $1.77 billion, a PE ratio of 29.51 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 5.56 and a quick ratio of 4.12. The business has a 50-day moving average of $117.43 and a two-hundred day moving average of $105.38. Turning Point Brands, Inc. has a 12 month low of $51.48 and a 12 month high of $146.90.

Turning Point Brands Increases Dividend

The company also recently announced 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, March 20th. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.08. Turning Point Brands’s dividend payout ratio (DPR) is presently 9.58%.

Insider Buying and Selling

In other news, Chairman David Edward Glazek sold 30,000 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $110.26, for a total value of $3,307,800.00. Following the completion of the sale, the chairman owned 127,083 shares of the company’s stock, valued at $14,012,171.58. This represents a 19.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Flynn sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total transaction of $195,140.00. Following the completion of the transaction, the chief financial officer directly owned 9,443 shares in the company, valued at approximately $921,353.51. This represents a 17.48% decrease in their position. The SEC filing for this sale provides additional information. 6.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on TPB. Weiss Ratings restated a “buy (b-)” rating on shares of Turning Point Brands in a report on Tuesday, December 23rd. Oppenheimer reissued an “outperform” rating and issued a $130.00 target price on shares of Turning Point Brands in a research report on Wednesday, January 14th. Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Zacks Research lowered shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. 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, the stock presently has an average rating of “Hold” and a consensus target price of $116.67.

Turning Point Brands 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.