Barclays PLC Grows Position in Turning Point Brands, Inc. (NYSE:TPB)

Barclays PLC boosted its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 298.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,274 shares of the company's stock after buying an additional 21,930 shares during the quarter. Barclays PLC owned approximately 0.17% of Turning Point Brands worth $1,262,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. First Sabrepoint Capital Management LP bought a new position in shares of Turning Point Brands in the third quarter valued at approximately $7,517,000. Federated Hermes Inc. boosted its position in Turning Point Brands by 245.9% in the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company's stock worth $4,965,000 after purchasing an additional 109,983 shares during the last quarter. Renaissance Technologies LLC grew its stake in Turning Point Brands by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 302,697 shares of the company's stock valued at $9,714,000 after purchasing an additional 52,800 shares during the period. 272 Capital LP purchased a new stake in shares of Turning Point Brands during the 3rd quarter valued at $1,488,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in shares of Turning Point Brands during the 3rd quarter worth $1,260,000. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Stock Performance

Shares of TPB stock traded up $0.13 during trading on Tuesday, reaching $55.84. 143,484 shares of the company's stock traded hands, compared to its average volume of 211,723. The firm's 50-day moving average is $59.14 and its 200 day moving average is $46.51. The company has a market capitalization of $988.20 million, a P/E ratio of 22.16 and a beta of 0.66. Turning Point Brands, Inc. has a 1 year low of $21.98 and a 1 year high of $66.18. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its 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 firm 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%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 earnings per share. Equities research analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Friday, December 20th. Turning Point Brands's payout ratio is presently 11.11%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TPB. Roth Capital upgraded shares of Turning Point Brands to a "strong-buy" rating in a research report on Friday, November 8th. Roth Mkm reissued a "buy" rating and set a $70.00 target price on shares of Turning Point Brands in a research report on Friday. StockNews.com raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Friday, January 3rd. Craig Hallum increased their price objective 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 Turning Point Brands in a research note on Thursday, November 14th. They issued an "outperform" rating and a $65.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $68.75.

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.