Findell Capital Management acquired 90,000 shares of Turning Point Brands for $8.9 million, marking a new position for the fund. The stock is not in the top five holdings, but it adds a consumer-products name with strong growth potential.

In the third quarter, Findell Capital Management initiated a new stake in Turning Point Brands, purchasing 90,000 shares worth $8.9 million. This new position accounts for 3.5% of the fund’s $253.4 million in reportable U.S. equity assets, adding to its 15 total positions.

Turning Point Brands saw its stock price rise to $99.56, up 60% over the past year, outperforming the S&P 500. The company has a market capitalization of $1.9 billion, TTM revenue of $435.7 million, and TTM net income of $52.4 million.

Turning Point Brands operates in the tobacco and alternative products market, offering a range of branded consumer products like rolling papers, tobacco, cigars, and vapor products. The company generates revenue through manufacturing, marketing, and distributing its products across various retail channels.

Findell’s investment in Turning Point Brands is strategic, aligning with the firm’s focus on companies displaying improving cash generation and pricing power. Turning Point Brands reported strong growth in its latest quarter, driven by momentum in Modern Oral products.

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Read more at Yahoo Finance: This Small-Cap Consumer Stock Has Landed New Institutional Backing as Shares Surge 60%