Turning Point Brands, Inc. (NYSE:TPB) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Turning Point Brands, Inc. (NYSE:TPB) by 3.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 405,613 shares of the company’s stock after acquiring an additional 15,344 shares during the quarter. Geode Capital Management LLC owned about 2.29% of Turning Point Brands worth $17,506,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Copeland Capital Management LLC acquired a new position in shares of Turning Point Brands in the 3rd quarter valued at about $61,000. The Manufacturers Life Insurance Company acquired a new position in Turning Point Brands in the second quarter valued at approximately $209,000. Magnetar Financial LLC acquired a new position in Turning Point Brands in the second quarter valued at approximately $212,000. Aigen Investment Management LP purchased a new stake in Turning Point Brands in the 3rd quarter worth approximately $221,000. Finally, Moran Wealth Management LLC acquired a new stake in shares of Turning Point Brands during the 3rd quarter worth approximately $236,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TPB shares. Roth Mkm reiterated a “buy” rating and set a $70.00 target price (up previously from $55.00) on shares of Turning Point Brands in a research report on Tuesday, December 17th. Oppenheimer started coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective on the stock. Craig Hallum boosted their target price on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Turning Point Brands currently has a consensus rating of “Buy” and an average target price of $68.75.

Turning Point Brands Price Performance

NYSE:TPB opened at $59.84 on Monday. The stock’s fifty day moving average is $56.54 and its two-hundred day moving average is $44.49. 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 company has a market capitalization of $1.06 billion, a P/E ratio of 23.75 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 earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same quarter in the previous year, the company earned $0.69 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s payout ratio is 11.11%.

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.