M&T Bank Corp Sells 20,336 Shares of Turning Point Brands, Inc. (NYSE:TPB)

M&T Bank Corp lessened its position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 24.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,832 shares of the company's stock after selling 20,336 shares during the quarter. M&T Bank Corp owned approximately 0.36% of Turning Point Brands worth $2,754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Martingale Asset Management L P raised its position in Turning Point Brands by 1.4% in the third quarter. Martingale Asset Management L P now owns 24,686 shares of the company's stock worth $1,065,000 after purchasing an additional 329 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Turning Point Brands by 0.3% in the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company's stock worth $3,849,000 after buying an additional 367 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Turning Point Brands by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 8,456 shares of the company's stock worth $271,000 after buying an additional 693 shares during the period. Access Investment Management LLC boosted its stake in Turning Point Brands by 0.6% in the 2nd quarter. Access Investment Management LLC now owns 121,385 shares of the company's stock valued at $3,895,000 after buying an additional 745 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Turning Point Brands by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company's stock valued at $371,000 after acquiring an additional 800 shares during the period. 96.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com cut Turning Point Brands from a "buy" rating to a "hold" rating in a report on Tuesday. Benchmark lifted their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Roth Mkm started coverage on shares of Turning Point Brands in a research note on Thursday, September 19th. They set a "buy" rating and a $50.00 price objective on the stock. Craig Hallum lifted their price target on Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Finally, Oppenheimer started 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 on the stock. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Turning Point Brands presently has a consensus rating of "Buy" and an average target price of $63.75.

Turning Point Brands Trading Down 3.0 %

Shares of TPB stock traded down $1.89 on Friday, reaching $60.52. 294,389 shares of the stock were exchanged, compared to its average volume of 128,042. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands, Inc. has a one year low of $21.98 and a one year high of $66.18. The stock has a market cap of $1.07 billion, a PE ratio of 24.02 and a beta of 0.66. The stock has a 50 day moving average price of $53.10 and a 200 day moving average price of $42.50.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm had revenue of $105.62 million during the quarter, compared to analysts' expectations of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. Equities research analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently disclosed 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 is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a yield of 0.46%. Turning Point Brands's payout ratio is presently 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.