UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stake in Turning Point Brands, Inc. (NYSE:TPB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Turning Point Brands, Inc. (NYSE:TPB) by 16.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,704 shares of the company’s stock after selling 2,093 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.06% of Turning Point Brands worth $462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TPB. Marshall Wace LLP grew its stake in shares of Turning Point Brands by 0.3% in the second quarter. Marshall Wace LLP now owns 119,954 shares of the company’s stock worth $3,849,000 after acquiring an additional 367 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Turning Point Brands by 8.9% in the second quarter. Principal Financial Group Inc. now owns 8,456 shares of the company’s stock valued at $271,000 after purchasing an additional 693 shares during the period. Access Investment Management LLC grew its stake in Turning Point Brands by 0.6% during the 2nd quarter. Access Investment Management LLC now owns 121,385 shares of the company’s stock worth $3,895,000 after purchasing an additional 745 shares in the last quarter. Copeland Capital Management LLC purchased a new stake in Turning Point Brands during the 3rd quarter worth about $61,000. Finally, XTX Topco Ltd raised its position in Turning Point Brands by 16.2% in the 2nd quarter. XTX Topco Ltd now owns 12,300 shares of the company’s stock valued at $395,000 after purchasing an additional 1,714 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Up 0.7 %

Turning Point Brands stock opened at $59.14 on Friday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 23.47 and a beta of 0.66. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The stock has a 50 day moving average of $54.92 and a two-hundred day moving average of $43.37. Turning Point Brands, Inc. has a twelve month low of $21.98 and a twelve month high of $66.18.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. As a group, research analysts expect that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.47%. Turning Point Brands’s payout ratio is currently 11.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Oppenheimer started coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target (up from $55.00) on shares of Turning Point Brands in a report on Tuesday. StockNews.com raised Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Craig Hallum boosted their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average 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.