Foundry Partners LLC Has $8.25 Million Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Foundry Partners LLC reduced its holdings in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,253 shares of the company's stock after selling 23,200 shares during the period. Foundry Partners LLC owned about 1.08% of Turning Point Brands worth $8,253,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Marshall Wace LLP lifted its position in shares of Turning Point Brands by 0.3% in the second quarter. Marshall Wace LLP now owns 119,954 shares of the company's stock worth $3,849,000 after purchasing an additional 367 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Turning Point Brands by 8.9% in the second quarter. Principal Financial Group Inc. now owns 8,456 shares of the company's stock worth $271,000 after acquiring an additional 693 shares during the last quarter. Access Investment Management LLC raised its holdings in shares of Turning Point Brands by 0.6% during the second quarter. Access Investment Management LLC now owns 121,385 shares of the company's stock worth $3,895,000 after acquiring an additional 745 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Turning Point Brands by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company's stock valued at $371,000 after purchasing an additional 800 shares during the last quarter. Finally, Copeland Capital Management LLC acquired a new position in Turning Point Brands in the 3rd quarter worth about $61,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com downgraded Turning Point Brands from a "strong-buy" rating to a "buy" rating in a report on Thursday, October 24th. Oppenheimer began coverage on Turning Point Brands in a report on Thursday, November 14th. They set an "outperform" rating and a $65.00 price objective on the stock. Benchmark boosted their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Roth Mkm assumed coverage on Turning Point Brands in a research report on Thursday, September 19th. They set a "buy" rating and a $50.00 target price for the company. Finally, Roth Capital upgraded shares of Turning Point Brands to a "strong-buy" rating in a research note on Friday, November 8th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Turning Point Brands currently has an average rating of "Buy" and a consensus target price of $60.00.

Turning Point Brands Stock Up 2.1 %

Shares of TPB stock opened at $62.30 on Thursday. Turning Point Brands, Inc. has a 12 month low of $21.98 and a 12 month high of $62.32. The stock has a 50 day moving average of $45.46 and a 200-day moving average of $38.91. The firm has a market cap of $1.10 billion, a PE ratio of 24.72 and a beta of 0.63. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. On average, equities analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.45%. Turning Point Brands's dividend payout ratio is currently 11.11%.

About Turning Point Brands

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.

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