Thrivent Financial for Lutherans Purchases 2,371 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Thrivent Financial for Lutherans raised its stake in Turning Point Brands, Inc. (NYSE:TPB) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,373,803 shares of the company’s stock after buying an additional 2,371 shares during the quarter. Thrivent Financial for Lutherans owned about 7.76% of Turning Point Brands worth $44,086,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. XTX Topco Ltd lifted its stake in Turning Point Brands by 16.2% in the second quarter. XTX Topco Ltd now owns 12,300 shares of the company’s stock valued at $395,000 after buying an additional 1,714 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Turning Point Brands by 21.1% in the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after buying an additional 52,800 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Turning Point Brands by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock valued at $14,785,000 after buying an additional 4,600 shares in the last quarter. Federated Hermes Inc. lifted its stake in Turning Point Brands by 245.9% in the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock valued at $4,965,000 after buying an additional 109,983 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Turning Point Brands by 8.8% in the second quarter. LSV Asset Management now owns 115,300 shares of the company’s stock valued at $3,700,000 after buying an additional 9,300 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Price Performance

Shares of TPB opened at $41.93 on Monday. The company has a market cap of $738.89 million, a price-to-earnings ratio of 18.47 and a beta of 0.62. Turning Point Brands, Inc. has a 1-year low of $19.67 and a 1-year high of $42.32. The company’s fifty day simple moving average is $38.43 and its 200 day simple moving average is $33.49. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43.

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

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.67%. Turning Point Brands’s payout ratio is 12.33%.

Insider Buying and Selling

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the transaction, the director now directly owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a research note on Friday, August 2nd. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Thursday. StockNews.com downgraded shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Roth Mkm started coverage on shares of Turning Point Brands in a report on Thursday. They issued a “buy” rating and a $50.00 price objective on the stock.

Turning Point Brands 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.