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

Principal Financial Group Inc. trimmed its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 20.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,765 shares of the company’s stock after selling 1,691 shares during the quarter. Principal Financial Group Inc.’s holdings in Turning Point Brands were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Copeland Capital Management LLC bought a new stake in Turning Point Brands during the third quarter worth approximately $61,000. Lazard Asset Management LLC acquired a new position in shares of Turning Point Brands during the 1st quarter valued at $48,000. SG Americas Securities LLC bought a new stake in shares of Turning Point Brands in the 2nd quarter worth $129,000. The Manufacturers Life Insurance Company bought a new stake in shares of Turning Point Brands in the 2nd quarter worth $209,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Turning Point Brands in the second quarter valued at $212,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Stock Performance

Shares of TPB opened at $61.09 on Tuesday. The company has a 50-day moving average of $46.86 and a two-hundred day moving average of $39.52. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 24.44 and a beta of 0.63. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. Turning Point Brands, Inc. has a one year low of $21.98 and a one year high of $63.51.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. During the same quarter last year, the business posted $0.69 EPS. The company’s revenue was up 3.8% on a year-over-year basis. 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 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s payout ratio is 11.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Benchmark lifted their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Roth Mkm started 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 for the company. Finally, Oppenheimer started coverage on Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $60.00.

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.