Baader Bank Aktiengesellschaft Sells 1,912 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Baader Bank Aktiengesellschaft lessened its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 14.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,088 shares of the company’s stock after selling 1,912 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Turning Point Brands were worth $659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new stake in Turning Point Brands during the 1st quarter valued at $325,000. IFP Advisors Inc grew its stake in shares of Turning Point Brands by 97,250.0% in the 1st quarter. IFP Advisors Inc now owns 3,894 shares of the company’s stock worth $231,000 after acquiring an additional 3,890 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Turning Point Brands by 4.1% in the 1st quarter. Arizona State Retirement System now owns 5,083 shares of the company’s stock worth $302,000 after acquiring an additional 199 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Turning Point Brands by 12.1% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 29,988 shares of the company’s stock worth $1,782,000 after acquiring an additional 3,231 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. grew its stake in shares of Turning Point Brands by 5.0% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 31,690 shares of the company’s stock worth $1,884,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Insider Buying and Selling

In related news, Director Lawrence Wexler sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $75.94, for a total value of $1,898,500.00. Following the transaction, the director directly owned 330,186 shares in the company, valued at approximately $25,074,324.84. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Wigginton sold 10,800 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.67, for a total transaction of $817,236.00. Following the completion of the transaction, the chief accounting officer owned 10,171 shares in the company, valued at approximately $769,639.57. This trade represents a 51.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,300 shares of company stock valued at $8,666,867 in the last 90 days. 6.60% of the stock is owned by company insiders.

Turning Point Brands Trading Up 3.6%

Shares of Turning Point Brands stock opened at $82.51 on Thursday. The company has a current ratio of 4.42, a quick ratio of 2.64 and a debt-to-equity ratio of 1.44. The company’s 50-day moving average price is $75.27 and its 200-day moving average price is $66.98. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 36.19 and a beta of 0.75. Turning Point Brands, Inc. has a 12-month low of $34.78 and a 12-month high of $82.61.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.16. The company had revenue of $106.44 million for the quarter, compared to analysts’ expectations of $95.75 million. Turning Point Brands had a net margin of 10.19% and a return on equity of 27.70%. Turning Point Brands’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. On average, equities analysts expect that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 20th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Friday, June 20th. Turning Point Brands’s dividend payout ratio (DPR) is 13.16%.

Analyst Ratings Changes

TPB has been the subject of several recent analyst reports. Oppenheimer upped their target price on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Turning Point Brands currently has an average rating of “Buy” and an average target price of $76.67.

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.