Allspring Global Investments Holdings LLC Raises Holdings in Turning Point Brands, Inc. (NYSE:TPB)

Allspring Global Investments Holdings LLC increased its position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 72,406.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,876 shares of the company's stock after purchasing an additional 10,861 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.06% of Turning Point Brands worth $469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TPB. Vanguard Group Inc. grew its position in shares of Turning Point Brands by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company's stock worth $43,865,000 after purchasing an additional 92,147 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Turning Point Brands by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company's stock worth $14,785,000 after buying an additional 4,600 shares in the last quarter. Renaissance Technologies LLC increased its stake in Turning Point Brands by 21.1% during the 2nd quarter. Renaissance Technologies LLC now owns 302,697 shares of the company's stock worth $9,714,000 after acquiring an additional 52,800 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of Turning Point Brands by 45.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company's stock valued at $7,481,000 after acquiring an additional 79,489 shares during the period. Finally, Aristides Capital LLC grew its holdings in shares of Turning Point Brands by 6.3% during the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company's stock worth $6,514,000 after purchasing an additional 12,041 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Stock Up 1.9 %

Shares of NYSE TPB traded up $0.90 during trading on Friday, hitting $48.13. The stock had a trading volume of 140,492 shares, compared to its average volume of 109,008. Turning Point Brands, Inc. has a 12 month low of $19.86 and a 12 month high of $48.64. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. The firm has a fifty day moving average of $41.91 and a two-hundred day moving average of $36.69. The company has a market capitalization of $852.38 million, a PE ratio of 19.89 and a beta of 0.63.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The firm had revenue of $108.51 million for the quarter. As a group, equities research analysts forecast that Turning Point Brands, Inc. will post 2.68 EPS for the current fiscal year.

Insider Activity at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the sale, the director now owns 46,544 shares in the company, valued at approximately $1,834,764.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TPB. Roth Mkm began coverage on Turning Point Brands in a research note on Thursday, September 19th. They issued a "buy" rating and a $50.00 price target for the company. StockNews.com downgraded shares of Turning Point Brands from a "strong-buy" rating to a "buy" rating in a report on Thursday, October 24th. Benchmark reissued a "buy" rating and issued a $45.00 price objective on shares of Turning Point Brands in a research note on Friday, August 2nd. Finally, Roth Capital upgraded Turning Point Brands to a "strong-buy" rating in a research note on Thursday, September 19th.

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.