Voya Investment Management LLC Has $611,000 Stake in Turning Point Brands, Inc. $TPB

Voya Investment Management LLC lowered its position in Turning Point Brands, Inc. (NYSE:TPB) by 61.5% in the third quarter, HoldingsChannel.com reports. The fund owned 6,184 shares of the company’s stock after selling 9,875 shares during the quarter. Voya Investment Management LLC’s holdings in Turning Point Brands were worth $611,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TPB. Divisadero Street Capital Management LP raised its position in Turning Point Brands by 187.5% in the 2nd quarter. Divisadero Street Capital Management LP now owns 943,784 shares of the company’s stock valued at $71,511,000 after purchasing an additional 615,521 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Turning Point Brands by 10.3% in the second quarter. Thrivent Financial for Lutherans now owns 722,897 shares of the company’s stock valued at $54,774,000 after buying an additional 67,552 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Turning Point Brands by 1.4% in the second quarter. Geode Capital Management LLC now owns 509,743 shares of the company’s stock valued at $38,629,000 after buying an additional 7,104 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Turning Point Brands by 15.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 330,182 shares of the company’s stock worth $25,018,000 after buying an additional 44,179 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. bought a new stake in Turning Point Brands during the 2nd quarter worth about $18,458,000. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Price Performance

TPB opened at $108.51 on Friday. The company has a fifty day moving average price of $101.00 and a two-hundred day moving average price of $92.81. The firm has a market capitalization of $2.07 billion, a PE ratio of 38.21 and a beta of 0.86. Turning Point Brands, Inc. has a 52 week low of $51.48 and a 52 week high of $113.31. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56.

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

Turning Point Brands Dividend Announcement

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

Insider Activity at Turning Point Brands

In other news, Director H.C. Charles Diao sold 2,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $108.20, for a total value of $216,400.00. Following the completion of the sale, the director directly owned 9,804 shares of the company’s stock, valued at $1,060,792.80. This represents a 16.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory H.A. Baxter sold 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $98.23, for a total transaction of $147,345.00. Following the completion of the sale, the director owned 38,919 shares in the company, valued at $3,823,013.37. This represents a 3.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 96,220 shares of company stock worth $9,958,542. 6.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Oppenheimer increased their price objective on Turning Point Brands from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Industrial Alliance Securities set a $110.00 target price on Turning Point Brands in a research note on Wednesday, November 5th. Finally, Alliance Global Partners upped their price target on Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $102.50.

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.