Turning Point Brands, Inc. (NYSE:TPB) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB) by 8.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,456 shares of the company’s stock after buying an additional 693 shares during the quarter. Principal Financial Group Inc.’s holdings in Turning Point Brands were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of TPB. Access Investment Management LLC raised its holdings in shares of Turning Point Brands by 0.6% during 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 during the period. Bank of New York Mellon Corp grew its position in shares of Turning Point Brands by 5.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 134,855 shares of the company’s stock worth $4,327,000 after acquiring an additional 6,519 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Turning Point Brands in the 2nd quarter worth approximately $129,000. Linden Thomas Advisory Services LLC lifted its holdings in shares of Turning Point Brands by 10.0% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 18,453 shares of the company’s stock worth $592,000 after purchasing an additional 1,683 shares during the last quarter. Finally, Boston Partners bought a new stake in Turning Point Brands during the 1st quarter valued at $964,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Plano Lorenzo De purchased 4,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was bought at an average price of $31.80 per share, for a total transaction of $127,200.00. Following the purchase, the insider now owns 34,896 shares in the company, valued at approximately $1,109,692.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Plano Lorenzo De bought 4,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was bought at an average cost of $31.80 per share, with a total value of $127,200.00. Following the completion of the acquisition, the insider now owns 34,896 shares in the company, valued at approximately $1,109,692.80. The disclosure for this purchase can be found here. Insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark reaffirmed a “buy” rating and set a $45.00 target price on shares of Turning Point Brands in a research note on Friday, August 2nd.

Turning Point Brands Stock Performance

Shares of NYSE TPB opened at $39.10 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $692.46 million, a price-to-earnings ratio of 17.22 and a beta of 0.62. The stock’s fifty day simple moving average is $37.96 and its 200 day simple moving average is $32.95. Turning Point Brands, Inc. has a 52-week low of $19.67 and a 52-week high of $40.66.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The business had revenue of $108.51 million for the quarter.

Turning Point Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, September 13th. Turning Point Brands’s payout ratio is currently 12.33%.

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.