American Century Companies Inc. Lowers Position in Turning Point Brands, Inc. (NYSE:TPB)

American Century Companies Inc. trimmed its stake in shares of Turning Point Brands, Inc. (NYSE:TPB) by 16.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 835,244 shares of the company’s stock after selling 162,827 shares during the period. American Century Companies Inc. owned 4.74% of Turning Point Brands worth $26,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in shares of Turning Point Brands during the first quarter valued at about $48,000. Allspring Global Investments Holdings LLC purchased a new stake in Turning Point Brands during the first quarter valued at $64,000. Quest Partners LLC bought a new position in Turning Point Brands during the fourth quarter valued at $65,000. SG Americas Securities LLC purchased a new position in shares of Turning Point Brands in the 2nd quarter worth $129,000. Finally, Comerica Bank increased its holdings in shares of Turning Point Brands by 22,417.6% in the 1st quarter. Comerica Bank now owns 7,656 shares of the company’s stock worth $224,000 after buying an additional 7,622 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the sale, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark reaffirmed a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a report on Friday, August 2nd.

Turning Point Brands Stock Performance

NYSE TPB opened at $39.02 on Thursday. The business’s 50 day moving average price is $38.21 and its 200-day moving average price is $33.23. Turning Point Brands, Inc. has a fifty-two week low of $19.67 and a fifty-two week high of $40.66. The company has a market cap of $691.04 million, a P/E ratio of 17.19 and a beta of 0.62. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data 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 disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, September 13th. Turning Point Brands’s payout ratio is currently 12.33%.

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.