Segall Bryant & Hamill LLC cut its position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 71.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,500 shares of the company's stock after selling 44,572 shares during the quarter. Segall Bryant & Hamill LLC owned 0.10% of Turning Point Brands worth $755,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in shares of Turning Point Brands in the 1st quarter valued at approximately $48,000. Copeland Capital Management LLC acquired a new stake in shares of Turning Point Brands in the third quarter valued at approximately $61,000. SG Americas Securities LLC bought a new stake in shares of Turning Point Brands in the second quarter worth $129,000. The Manufacturers Life Insurance Company acquired a new position in Turning Point Brands during the second quarter worth $209,000. Finally, Magnetar Financial LLC bought a new stake in Turning Point Brands during the 2nd quarter worth about $212,000. Institutional investors and hedge funds own 96.12% of the company's stock.
Turning Point Brands Trading Down 2.5 %
TPB traded down $1.56 during trading on Monday, reaching $61.09. 190,635 shares of the stock traded hands, compared to its average volume of 123,510. The stock's 50-day moving average is $46.86 and its 200 day moving average is $39.52. Turning Point Brands, Inc. has a 12 month low of $21.98 and a 12 month high of $63.51. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $1.08 billion, a PE ratio of 24.44 and a beta of 0.63.
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, topping the consensus estimate of $0.67 by $0.01. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. During the same quarter last year, the firm posted $0.69 EPS. The company's quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.
Turning Point Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.46%. The ex-dividend date is Friday, December 20th. Turning Point Brands's payout ratio is currently 11.11%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Roth Mkm assumed coverage on shares of Turning Point Brands in a report on Thursday, September 19th. They set a "buy" rating and a $50.00 target price on the stock. Benchmark raised their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Oppenheimer assumed coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They issued an "outperform" rating and a $65.00 price objective for the company. Roth Capital upgraded shares of Turning Point Brands to a "strong-buy" rating in a research report on Friday, November 8th. Finally, StockNews.com lowered Turning Point Brands from a "strong-buy" rating to a "buy" rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $60.00.
Read Our Latest Stock Report on Turning Point Brands
About Turning Point Brands
(
Free Report)
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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