Lord Abbett & CO. LLC Sells 9,385 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Lord Abbett & CO. LLC cut its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 244,469 shares of the company's stock after selling 9,385 shares during the period. Lord Abbett & CO. LLC owned about 1.38% of Turning Point Brands worth $10,549,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. 272 Capital LP bought a new stake in Turning Point Brands during the 3rd quarter valued at approximately $1,488,000. Barclays PLC raised its position in shares of Turning Point Brands by 298.6% during the third quarter. Barclays PLC now owns 29,274 shares of the company's stock valued at $1,262,000 after buying an additional 21,930 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Turning Point Brands by 3.9% in the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company's stock worth $17,506,000 after buying an additional 15,344 shares in the last quarter. First Sabrepoint Capital Management LP bought a new position in shares of Turning Point Brands during the third quarter worth $7,517,000. Finally, Jane Street Group LLC boosted its position in shares of Turning Point Brands by 9.9% during the third quarter. Jane Street Group LLC now owns 29,228 shares of the company's stock worth $1,261,000 after acquiring an additional 2,637 shares during the last quarter. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Trading Down 0.3 %

Shares of NYSE:TPB traded down $0.16 during trading hours on Tuesday, hitting $60.61. 238,512 shares of the company's stock traded hands, compared to its average volume of 128,972. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The business has a fifty day moving average price of $53.49 and a 200-day moving average price of $42.77. Turning Point Brands, Inc. has a 1 year low of $21.98 and a 1 year high of $66.18. The firm has a market capitalization of $1.07 billion, a P/E ratio of 23.87 and a beta of 0.66.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. Turning Point Brands's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. Equities analysts expect 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 10th. Shareholders of record on Friday, December 20th will be paid 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 yield of 0.46%. Turning Point Brands's dividend payout ratio is currently 11.11%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TPB. Oppenheimer initiated coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They set an "outperform" rating and a $65.00 price objective for the company. Roth Capital raised Turning Point Brands to a "strong-buy" rating in a research note on Friday, November 8th. Craig Hallum increased their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. StockNews.com cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Finally, Benchmark increased their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Turning Point Brands presently has a consensus rating of "Buy" and an average price target of $68.75.

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.