Turning Point Brands, Inc. (NYSE:TPB) Shares Purchased by Barclays PLC

Barclays PLC boosted its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 298.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 29,274 shares of the company’s stock after acquiring an additional 21,930 shares during the period. Barclays PLC owned about 0.17% of Turning Point Brands worth $1,262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Turning Point Brands by 3.9% during the third quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after buying an additional 15,344 shares in the last quarter. First Sabrepoint Capital Management LP purchased a new stake in Turning Point Brands during the 3rd quarter valued at about $7,517,000. Jane Street Group LLC raised its holdings in Turning Point Brands by 9.9% in the 3rd quarter. Jane Street Group LLC now owns 29,228 shares of the company’s stock valued at $1,261,000 after acquiring an additional 2,637 shares during the last quarter. Stifel Financial Corp lifted its stake in Turning Point Brands by 6.8% in the 3rd quarter. Stifel Financial Corp now owns 25,646 shares of the company’s stock worth $1,107,000 after purchasing an additional 1,634 shares in the last quarter. Finally, 272 Capital LP acquired a new position in shares of Turning Point Brands during the 3rd quarter worth approximately $1,488,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Stock Performance

NYSE TPB opened at $55.80 on Tuesday. The business’s 50-day moving average price is $59.14 and its 200 day moving average price is $46.51. 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 firm has a market cap of $987.49 million, a P/E ratio of 22.14 and a beta of 0.66. Turning Point Brands, Inc. has a 52-week low of $21.98 and a 52-week high of $66.18.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data 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 company had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. On average, equities 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 company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.11%.

Analyst Upgrades and Downgrades

TPB has been the topic of several recent research reports. Oppenheimer began coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Craig Hallum increased their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Benchmark lifted their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Turning Point Brands currently 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.