Turning Point Brands, Inc. (NYSE:TPB) Position Lowered by DCF Advisers LLC

DCF Advisers LLC lessened its holdings in Turning Point Brands, Inc. (NYSE:TPB) by 11.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,800 shares of the company’s stock after selling 9,700 shares during the quarter. Turning Point Brands makes up about 1.2% of DCF Advisers LLC’s investment portfolio, making the stock its 24th largest holding. DCF Advisers LLC owned about 0.42% of Turning Point Brands worth $2,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TPB. Lazard Asset Management LLC acquired a new position in shares of Turning Point Brands during the first quarter worth approximately $48,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Turning Point Brands in the first quarter worth approximately $64,000. Quest Partners LLC acquired a new stake in Turning Point Brands during the 4th quarter valued at $65,000. SG Americas Securities LLC acquired a new position in Turning Point Brands during the second quarter valued at $129,000. Finally, Comerica Bank increased its holdings in shares of Turning Point Brands by 22,417.6% in the 1st quarter. Comerica Bank now owns 7,656 shares of the company’s stock valued at $224,000 after purchasing an additional 7,622 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TPB. Benchmark reaffirmed a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a research note on Friday, August 2nd. Roth Mkm assumed coverage on shares of Turning Point Brands in a research report on Thursday. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Thursday.

Insider Transactions at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the transaction, the director now owns 46,544 shares in the company, valued at approximately $1,834,764.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.20% of the stock is owned by company insiders.

Turning Point Brands Price Performance

Shares of TPB stock opened at $41.69 on Friday. The company has a market capitalization of $738.33 million, a P/E ratio of 18.37 and a beta of 0.62. Turning Point Brands, Inc. has a 12 month low of $19.67 and a 12 month high of $41.89. The stock has a 50 day moving average of $38.32 and a two-hundred day moving average of $33.29. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The firm had revenue of $108.51 million during the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a $0.07 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.67%. Turning Point Brands’s dividend payout ratio (DPR) is presently 12.33%.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.